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Handy Howard's Incorporated, is a student co - op . Handy Howard uses a perpetual inventory system. The following transactions ( summarized ) have been
Handy Howard's Incorporated, is a student coop Handy Howard uses a perpetual inventory system. The following transactions summarized have been selected for analysis:a Sold merchandise for cash cost of merchandise $ $ b Received merchandise returned by customers as unsatisfactory but in perfect condition for cash refund original cost of merchandise $c Sold merchandise costing $ to a customer on account with terms nd Collected half of the balance owed by the customer in ce Granted a partial allowance relating to credit sales the customer in c had not yet paid. f Anticipate further returns of merchandise costing $ after monthend from sales made during the month. Handy Howard is considering a contract to sell merchandise to a Handy Howard organization for $ This merchandise will cost Handy Howard $Would this contract increase or decrease Handy Howard 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 decimal place.
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