13 Required Information The following information applies to the questions displayed below) Part of Hair World Inc as a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions summanred) have been selected for analysis, 579,20 0.55 17,00 8. See 272 3. Sold merchandise for cash (cest of merchandise 342, 797) Received werchandise returned by customers as unsatisfactory (but in perfect condition for cash refund (original cost of merchandise $570). c. Sald merchandise (costing 1,075 ) to a customer on account with terms w/60. d. 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. Required: 1. Compute Net Sales and Gross Profit for Hair World Answer is complete but not entirely correct. Is Net Sales Gross Profit 04.078 50.630 5