Which statement is false regarding the differences between the perpetual system and the periodic system, assuming the gross method is used?

Group of answer choices

Perpetual system debits Inventory account for shipping charge, whereas periodic system debits Freight-in account.

Perpetual system credits Inventory account for merchandise sold, whereas periodic system does not make any entry affecting inventory or cost of goods sold.

Perpetual system credits Inventory account for merchandise return & discount, whereas periodic system credits Purchases account.

Perpetual system debits Inventory account for inventory purchase, whereas periodic system debits Purchases account.

Cinnamon Buns Co. (CBC) started 2021 with $53,900 of merchandise on hand. During 2021, $288,000 in merchandise was purchased on account with credit terms of 3/10 n/30. All discounts were taken. Purchases were all made f.o.b. shipping point. CBC paid freight charges of $10,900. Merchandise with an invoice amount of $3,000 was returned for credit. Cost of goods sold for the year was $302,000. CBC uses a perpetual inventory system. Assuming CBC uses the gross method to record purchases, ending inventory would be:

Group of answer choices

$47,800.

$28,350.

$39,250.

$39,160.