HW 068 with hints Seved 5 Part 4 of 4 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 (summarizech have been selected for analysis: 15 point $276,700 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 $010) . Sold archandise (costing $9.450) to customer on account with term n/30 Collected half of the balance owed by the customer in (c) Granted partial allowance relating to create the customer inte had not yet paid 1.610 21.000 10,500 1,020 References CP6-3 Part 4 4. Campus Stop is considering a contract to sell merchandise to a campus organization for $16,000. This merchandise will cost Campus Stop $12,500. Would this contract increase for decrease) Campus Stop's dollars of gross profit and its gross pront percentagel Tip: The impact on gross profit dollars may differ from the impact on gross profit percentage. Round "Gross Profit Percentage to 1 decimal place) Grote Percentage by 00