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Check my work 4 Required information [The following information applies to the questions displayed below.) Campus Stop, Incorporated, is a student co-op. Campus Stop uses
Check my work 4 Required information [The following information applies to the questions displayed 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 $152,070). D. Received merchandise returned by custoners 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 1/30. 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. f. Anticipate further returns of merchandise (costing $200) after month-end from sales made during the month. $ 275, obo 1,600 20, obo 10,000 1,150 700 Required: 1. Compute Net Sales and Gross Profit for Campus Stop, Not Sales Gross Pront
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