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HW 068 with hints Saved 3 Part 2 ora Required information CP6-3 Recording Cash Sales, Credit Sales, Sales Returns, and Sales Allowances and Analyzing Gross

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HW 068 with hints Saved 3 Part 2 ora Required information CP6-3 Recording Cash Sales, Credit Sales, Sales Returns, and Sales Allowances and Analyzing Gross Profit Percentage [LO 6-4, LO 6-6] The following information applies to the questions displayed below) Campus Stop, Inc., is a student co-op Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis 15 poires Book Sold merchandise for cash (cost of merchandise $152,500) Received merchandise returned by customers as unsatisfactory out in perfect condition) for cash refund (original cost of merchandise $610) Sold marchandise (costing 59,450) to customer on account with terms/30 d. Collected half of the balance owed by the customer in (e) Granted partial allowance relating to credit sales the customer in (e) had not yet paid Pie $270, 700 1.610 21,000 19,500 0 CP6-3 Part 2 2. Compute the gross profit percentage. (Round your answer to 2 decimal places.) hints Saved Required Information CP6-3 Recording Cash Sales, Credit Sales, Sales Returns, and Sales Allowances and Analyzing Gross Profit Percentage [LO 6-4, LO 6-6] (The following information applies to the questions displayed below.) Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $276, 700 a. Sold merchandise for cash (cost of merchandise $152,590) Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $810) c. Sold merchandise (costing 39, 450) to a customer on account with terns n/30 d. Collected half of the balance owed by the customer in (e) Granted a partial allowance relating to credit sales the customer in (e) had not yet paid, 1,610 21,000 10, 580 1,820 CP6-3 Part 2 2. Compute the gross profit percentage. (Round your answer to 2 decimal places.) Gross Date Percentage

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