) Northridge Co. started 2022 with $94,000 of merchandise inventory on hand. During 2022, $400,000 in merchandise was purchased on account with credit terms of 1/15, n/45. Purchases were all made f.o.b. shipping point. Northridge paid freight charges of $7,500. Merchandise with an invoice amount of $5,000 was returned for credit. All purchases on account were paid within the discount period. Cost of goods sold for the year was $380,000. Northridge uses a perpetual