Assume the perpetual inventory method is used.
1. Marathon Company purchased merchandise inventory that cost $8,000 under terms of 2/10, n/30 and FOB shipping point.
2. Marathon paid freight cost of $500 on the merchandise.
3. Marathon made payment to the supplier within the discount period.
4. All of the goods were sold to customers on account for $12,000.
The gross margin from these transactions of Marathon Company is