Find gross profit and gross percentage

0 Required information The following information applies to the questions displayed below] Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactic (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $48,797) b. Received merchandise returned by customers as unsatisfactory (but in perfect , condition) for cash refund (original cost of merchandise $660 ) c. Sold merchandise (costing $9,5e0 to a customer on account with terms n/60. 20,00e $91,200 1,100 10,000 320 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. Required: 1. Compute Net Sales and Gross Profit for Hair World Net Sales S 109,780 Gross Profit Required information The following information applies to the questions displayed below Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transacti (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $48,797) b. Received merchandise returned by customers as unsatisfactory (but in perfect ,condition) for cash refund (original cost of merchandise $660 c. Sold merchandise (costing $9,500) to a customer on account with terms n/60. 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) hac $91,200 1,100 20,800 10,600 not yet paid. 320 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.)