Dashboard Dashboard General presentati. Inside Manhattan. Main Menu Assignments Ch 5: Homework Ch 5: Homework Send to Gradebook Question 5 View Policies Current Attempt in Progress Mr.Etemadi has prepared the following list of statements about service companies and merchandisers. Identify each statement as true or false. 1 Measuring net income for a merchandiser is conceptually the same as for a service company 2. For a merchandiser, sales less operating expenses is called gross profit. 3. For a merchandiser, the primary source of revenues is the sale of inventory 4 Sales salaries and wages is an example of an operating expense. 5. The operating cycle of a merchandiser is the same as that of a service company 6. In a perpetual inventory system, no detailed inventory records of goods on hand are maintained. 7. In a periodic inventory system the cost of goods sold is determined only at the end of the accounting period 8 Aperiodic inventory system provides better control over inventories than a perpetual system e Textbook and Media Send to Gradebook w LET