compute net sales & gross profit for Hair World

Then compute, the gross profit percentage.

___%

Thank you!! :)

:)

Hair World Incorporated is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $28,797). $ 51,200 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $220). 250 C. Sold merchandise (costing $4,750) to a customer on account with terms n/60. 10,000 d. Collected half of the balance owed by the customer in (c). 5,000 e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. f. Anticipate further returns of merchandise (costing $140) after year-end from sales made during the year. 160 350