The prinary diffenese betwoea a periodie and perpetual inventory system is that a periodic sygem a. kecps a record showing the inventory on hand at all time. b. provides better control aver inventories. c. records the cost of the sale on the date the sale is made d. determines the invedtory ce hand only at the end of the acecuntiing period. 2. Davies Company purehased merehandive inventory with an invoise price of 515,000 and credit terms of 2/10,n30. What is the net cod of the goods if Davies Company pays within the discoum periodt a. 515,000 b. 514,760 e. $14,700 d 512,090 3. A credit sale of 51,400 is mide on July 15, terms 210 , act30, on which a retam of 5100 is granked on July 18. What ameunt is received as payment in full on July 24? a. 51,400 b. $1,274 c. 51,350 d $1,372