Which of the following accounts will only be found in the chart of accounts of a merchandising company? a. Accounts Pay able b. Accounts Receivable c. Merchandise Inventory d. Sales Calculate the gross profit for Jonas Company based on the data given below: a. $700, 750 b. $753, 250 c. $162, 750 d. $215, 250 A company. using the periodic inventory system, has merchandise inventory costing $ 175 on hand at the beginning of the period During the period, merchandise costing $635 is purchased. At year-end, merchandise inventory costing $ 160 is on hand. The cost of merchandise sold for the year is a. $300 b. $650 c. $970 d. $620 A sales invoice included the following Krchandise price. $ 10, 000; freight, $900; terms 1/10, n/com, FOB shipping point. Assuming the a credit for merchandise returned of $500 is granted prior to payment and that the invoice is paid within the discount period, what is the amount of cash that should be received by the seller? a. $10, 305 b. $9, 306 c. $9, 900 d. $9, 500 Under the periodic inventory system, the journal entry to record the cost of merchandise sold at the point of sale will include the following account a. Purchases b. Cost of merchandise sold C. No entry is made d. Inventory