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Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $268,900 a.
Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $268,900 a. Sold merchandise for cash (cost of merchandise $149,510). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $760) c. Sold merchandise (costing $7,650) to a customer on account with terms n/30. d. Collected half of the balance owed by the customer in e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1,710 17,000 8.500 1, 740 4. Campus Stop is considering a contract to sell merchandise to a campus organization for $14,000. This merchandise will cost Campus Stop $11,000. Would this contract increase (or decrease) Campus Stop's dollars of gross profit and its gross profit percentage? TIP: The impact on gross profit dollars may differ from the impact on gross profit percentage. (Round "Gross Profit Percentage" to 1 decimal place.) by Gross Profit Gross Profit Percentage to
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