ii) Calculate the net sales, gross profit and gross profit percentage. Net Sales Gross Profit Gross Profit Margin = iii) Journalize the ABC Merchandising Corporation's on March 3, March 4, March 5 and March 13 transactions this time assuming that ABC Merchandising Corporation uses a periodic inventory system. March 3 Purchased $20,000 of merchandise on account, terms 2/10, n/30, FOB destination. March 4 Paid $150 for the delivery of the goods purchased. March 5 Returned merchandise purchased on March 3 for credit, $2,000 March 13 Made the payment in full for the merchandise purchased on March 3, less the return on March 5 and the purchase discount. ii) Calculate the net sales, gross profit and gross profit percentage. Net Sales Gross Profit Gross Profit Margin = iii) Journalize the ABC Merchandising Corporation's on March 3, March 4, March 5 and March 13 transactions this time assuming that ABC Merchandising Corporation uses a periodic inventory system. March 3 Purchased $20,000 of merchandise on account, terms 2/10, n/30, FOB destination. March 4 Paid $150 for the delivery of the goods purchased. March 5 Returned merchandise purchased on March 3 for credit, $2,000 March 13 Made the payment in full for the merchandise purchased on March 3, less the return on March 5 and the purchase discount