4 Required information [The following information applies to the questions displayed below.) Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $87,200 04 a. Sold merchandise for cash (cont of merchandise $46,797). b. Received merchandise returned by customers an unsatisfactory (but in perfect condition) for cash refund (original cont of merchandise $630 ). c. Sold merchandise (coating $9,025 ) to a customer on account with terme n/60. d. Collected half of the balance owed by the customer in (e). e. Granted a partial allowance relating to credit sales the customer in (e) had not yet paid. 1,050 19,000 9.500 304 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage %