Match the following Debits to Merchandise Inventory A calculation of gross profit divided by net sales A caldation of gross profit divided by net sales 10 The merchandise Inventory account balance should equal ending inventory, at all times 1. Net sales Freight terms which require the seller to pay the freight cost 2. Freight out 3. Subsidiary account Deducted from net sales to calculate gross profit 4. Cost of goods purchased OD 5 Purchase discount Requires a physical count of goods on hand to calculate cost of goods sold 6. Cost of goods sold Sudary Deschated from met saks to caterons profit Cost of goch purchased 5. Purchase discount OD OD Requires a physical.count of goods on hand to calculate cost of goods sold 6. Cost of goods sold 7. Periodic Inventory system A discount provided to encourage early payment 8 Perpetual inventory system Sales less sales returns and allowances and sales discounts 9. FOB destination 10. Gross Profit Margin Separate account maintained for each different product 11. FOB shipping point Sales les sales mehrs and allowances and sales discounts 9. FOB destination 10. Gross Profit Margin DOO Separate account maintained for each different product 11. FOB shipping point Freight terms which required the buyer to pay the freight cost Freight cost to deliver goods to customers reported as an operating expense