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Assume the perpetual inventory method is used. Green Company purchased merchandise inventory that cost $64,000...

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Accounting

Assume the perpetual inventory method is used. Green Company purchased merchandise inventory that cost $64,000 under terms of 2/10, n/30 and FOB shipping point. The company paid freight cost of $2,400 to have the merchandise delivered. Payment was made to the supplier within 10 days. All of the merchandise was sold to customers for $94,000 cash and delivered under terms FOB shipping point with freight cost amounting to $1,600. What is Green Company's gross margin resulting from these transactions? Multiple Choice $27,280 $31,280 $28,880 $29,680

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