Which of the following line items will appear on the income statement of a merchandiser but not of a service company? Depreciation Expense O Cost of Goods Sold Salaries Expense O Supplies Inventory Question 6 2 pts Which of the following is NOT recorded in a modern perpetual inventory system? timeliness of vendor deliveries units purchased and cost amounts O units sold and sales and cost amounts the quantity of merchandise inventory on hand and its cost 2 pts Question 7 Which of the following statements is NOT correct? O In a perpetual inventory system, the "cash register" at the store is a computer terminal that records sales and updates inventory records. O Restaurants and small retail stores often use the periodic inventory system. O In a periodic inventory system, merchandise inventory and purchasing systems are integrated with the records for Accounts Receivable and Sales Revenue. Even in a perpetual inventory system, a business must count inventory at least one a year. Question 8 2 pts Which of the following entries would be made to record the purchase of inventory on account for $1,000, if a company uses the perpetual inventory system? Merchandise Inventory 1,000 Accounts Payable 1,000 O Cash 1,000 Merchandise Inventory 1,000 Accounts Payable 1,000 Merchandise Inventory 1,000 Merchandise Inventory 1,000 Cash 1,000 Question 9 2 pts A company that uses a perpetual inventory system purchased inventory on account and later returned goods worth to the vendor. Which of the following would be the correct journal entry to record these returns? Purchase Returns 300 Accounts Payable 300 O Accounts Payable 300 Merchandise Inventory 300 Accounts Payable 300 Purchase Returns 300 Merchandise Inventory 300 Accounts Payable 300