Uses the perpetual inventory method

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Assume Beta Company uses the perpetual inventory method and engaged in the following transactions: 1- Purchased $5,000 of merchandise on account under terms 2/10, n/30. 2- Returned $600 (list price) of merchandise to the supplier before payment was made. 3- Paid the account payable within the discount period. 4- Sold the merchandise for $6,500 cash. The amount of gross margin from the four transactions is $1,012. $1,500. $2,188. $2,100.

Reference no: EM131286605

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