$9.1$

Required Informatlon

$[$The following information applies to the questions olisplayed below$]$

Campus Stop, Incorporated, is a student co$-$op$.$ Campus Stop uses a perpetual inventory system. The following transactions $($summarized$)$ have been selected for analysis:

a$.$ Sold merchandise for cash $($cost of merchandise $$152,079).$

$$275,060$

b$.$ Recelved merchandise returned by customers as unsatisfactory $($but in perfect condition$)$ for cash refund $($original cost of merchandise $$600).$

c$.$ Sold merchandise $($costing $$9,000)$ to a customer on account with terms $\frac{n}{30}.$

$1,60$

$20,600$

$10,600$

$1,100$

d$.$ collected half of the balance owed by the customer in $($c$).$

e$.$ Granted a partial allowance relating to credit sales the customer in $($c$)$ had not yet paid.

$7$e$$

f$.$ Anticipate further returns of merchandise $($costing $$200)$ after month$-$end from sales made during the month.

$2.$ Compute the gross profit percentage. $($Round your answer to $1$ decimal place.