$131,144$ for gross profit was wrong

Ortiz Books, is a student co-op. Ortiz Books uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: b. Required: Sold merchandise for cash (cost of merchandise $153,470) . Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $604) Sold merchandise (costing $9, to a customer on account with terms n/ 30. Collected half of the balance owed by the customer in (c) . Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. Anticipate further returns of merchandise (costing $202) after month-end from sales made during month . the $ 277,75a 1,61a 20,2aa 10, laa 1,12a 7 la 1. Compute Net Sales and Gross Profit for Ortiz Books. Answer is complete but not entirely correct. Net Sales Gross Profit s 294,510 e s 131,144'