t.html Sullivan Company uses the periodic inventory method. The following balances were drawn from the accounts of Sullvan Company prior to the closing process: Sales revenue Beginning inventory alance Purchases Transportation-in Transportation-out Purchase discounts Ending inventory balance $24,000 6,400 16,000 800 1,200 400 7,200 e amount of gross margin appearing on the income statement should be: Multiple Choice $8,400. $7,200. Next> 15 of 27 Prev