$ 59,520 Kelly Creations is a wholesaler of hair supplies. Kelly Creations uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: 4. Sold merchandise for cash (cont of merchandise $33,477). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cont of merchandise $350). c. Sold merchandise (costing $8,455) to a customer on account with terms 1/60. 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) bad not yet paid. 1. Anticipate further returns of merchandise (conting $270) after year-end from wales made during the year. 380 17,800 8.900 186 390 PA6-3 (Algo) Part 1 Required: Required: 1. Compute Net Sales and Gross Profit for Kelly Creations. Net Sales Gross Profit NCHY LICQUUH3 15 O WITVISIEI UITTON suppres. Reny ICOVIUIS uses a perpLUGI HIVERY System. The following transactions (summarized) have been selected for analysis: $ 59,520 a. Sold merchandise for cash (cost of merchandise $33,477). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $350). c. Sold merchandise (costing $8,455) to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in (e). e. Granted partial allowance relating to credit wales the customer in (c) had not yet paid. f. Anticipate further returns of merchandise (costing $270) after year-end from sales made during the year. 380 17,800 8,900 186 390 PA6-3 (Algo) Part 2 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage 45.7%