Campus Stop, Inc , 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 $151,550) $ 273,300 b Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $790) 1,740 c Sold merchandise (costing $8,550) to a customer on account with terms n 30 19,000 d Collected half of the balance owed by the customer in ( c ) 9,500 e Granted a partial allowance relating to credit sales the customer in ( c ) had not yet paid 1,780 Required Compute Net Sales and Gross Profit for Campus Stop Compute the gross profit percentage (Round your answer to 2 decimal places ) Campus Stop is considering a contract to sell merchandise to a campus organization for $26,000 This merchandise will cost Campus Stop $15,500 Would this contract increase (or decrease) Campus Stops 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 )

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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: a. Sold

Campus Stop, Inc., 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 $151,550).	$	273,300
b.	Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $790).		1,740
c.	Sold merchandise (costing $8,550) to a customer on account with terms n/30.		19,000
d.	Collected half of the balance owed by the customer in (c).		9,500
e.	Granted a partial allowance relating to credit sales the customer in (c) had not yet paid.		1,780

Required:

Compute Net Sales and Gross Profit for Campus Stop.
Compute the gross profit percentage. (Round your answer to 2 decimal places.)
Campus Stop is considering a contract to sell merchandise to a campus organization for $26,000. This merchandise will cost Campus Stop $15,500. Would this contract increase (or decrease) Campus Stops 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.)