Hair Care Inc. is a wholesaler of hair supplies. Hair Care uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. b. Sold merchandise for cash (cost of merchandise $29,597) $52,000 Received merchandise returned by customers as unsatisfactory (but in perfect condition), for cash refund (original cost of merchandise $440) 680 Sold merchandise (costing $5,150) to a customer, on account with terms 1/10, n/30 10,000 Collected half of the balance owed by the customer in (c) within the discount period 4,950 Granted an allowance to the customer in (c) 200 C. d. e. Required: 1. Compute Sales Revenue, Net Sales, and Gross Profit for Hair World. X Answer is complete but not entirely correct. Sales revenue $ 62,000 Net sales $ 61,020 X Gross profit $ 34,347 X