Assume the perpetual inventory method is used.1) Green Company purchased merchandise inventory that cost $17,400 under terms of 4/10, n/30 and FOB shipping point.
2) The company paid freight cost of $740 to have the merchandise delivered.
3) Payment was made to the supplier within 10 days.
4) All of the merchandise was sold to customers for $26,300 cash and delivered under terms FOB shipping point with freight cost amounting to $540.
The gross margin from these transactions of Green Company is
A. $8316.
B. $9056.
C. $8856.
D. $9596.
Answer: C
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