" Question Completion Status QUESTION 31 Sales returns: O Refer to that customers return to the seller after the sale. O Refer to reductions in the selling price of merchandise sold to customers. O Represent cash discounts. O Represent trade discounts. O Are not recorded under the perpetual inventory system until the end of each accounting period. QUESTION 32 The current period's ending inventory is: The next period's beginning inventory. O The current period's cost of goods sold. OThe prior period's beginning inventory. The current period's net purchases. O The current period's beginning inventory. QUESTION 33