assume that sunglass hut the purchaser

DEMONSTRATION CASE smeOakley, Inc-the maker of sunglases, gogeles, and other products-made mechandise cost- Oakley, Inc. echandise differed from what Sunglass Hut had ondered. so Oakdey agreed to give an allowance of $137,200 and sold it on credit o Sunglass Hut for $405,000 with terms 3/10. n/50. Some of the Sunglass Hut 000 Sunglass Hut satislied the remaining halance of $400000 by paying within the discount period. equired: Assume that Sunglass Hut the purchaser) uses a perpetual inventory system. Analyze the accounting equation effects and record the journal entries that Sunglass Hut would use for the following transactions a. Sunglass Hut purchase from Oakley h. Allowance granted by Oakley c. Payment made by Sunglass Hut to Oakley Assuming that Oakley uses a perpetual inventory system, analyze the accounting equationBecause no goods are cetu eflects and record the journal entries that Oakley would use for the following transactions: COACH'S TI Note that transaction b dep allowance but no retun of g Inventory and deease Sale from Oakley to Sunglass Hu b. Allowance granted by Oakley oods Sold, but it does aco for the allowance's offect on seling price Payment made by Sunglass Hut to Oakley Compute Oakley's net sales, assuming that sales retums and allowances and sales discount are treated as contra-revenues Compuie Oalley's gro profit and gross profit percentage on the sale Compare this ratio to he 66.7 percent gross profit compuny that makes Persol and Ray-Ban sunglasses, What does it imply about the iw eamed in 2013 by the Luxottica Group-the Ialian