Business, 01.07.2020 15:01 soso585oo

Use the following account numbers and corresponding account titles to answer the following question. Account No. Account Title
(1) Cash
(2) Merchandise inventory
(3) Cost of goods sold
(4) Transportation-out
(5) Dividends
(6) Common stock
(7) Selling expense
(8) Loss on the sale of land
(9) Sales
Which accounts would affect gross margin?
a. Account numbers 3, 4, 7 and 9
b. Account numbers 3, 7, 8 and 9
c. Account numbers 2 and 9
d. Account numbers 3 and 9

Answers: 2

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