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it doesnt mention total sales on the questions PA6-3 (Static) Recording Sales with Discounts and Estimated and Actual Returns, and Analyzing Gross Profit Percentage (LO
it doesnt mention total sales on the questions
PA6-3 (Static) Recording Sales with Discounts and Estimated and Actual Returns, and Analyzing Gross Profit Percentage (LO 6-4, LO 6-5) The following information applies to the questions displayed below) Hair World Incorporated is a wholesaler of hair supplies. Hair World uses a perpetual Inventory system. The following transactions (summarized) have been selected for analysis: $ 51,200 a. Bold merchandine for cash (cost of merchandise 28, 797) b. Received merchandise returned by customers an unsatisfactory (but in perfect condition) Lor canh refund original cost of merchandise $220). c. Sold merchandise conting $4,750) to a customer on account with terms 760. d. Collected hall of the balance owed by the customer in e e. Granted a partial allowance relating to credit calon the customer in e) had not yet paid. 1. Anticipate further returns of merchandise (conting $140) after year and from sales made during the year 250 10,000 5,000 160 350 PA6-3 (Static) Part 4 4. Hair World is considering a contract to sell merchandise to a hair salon chain for $15,000. This merchandise will cost Hair World $10,000. What would be the increase for decrease) to Hair World's gross profit and gross profit percentage? (Round "Gross Profit Percentage" to 1 decimal place.) 1 Gross Profit Gross Profit Percentage by to Required Information PA6-3 (Static) Recording Sales with Discounts and Estimated and Actual Returns, and Analyzing Gross Profit Percentage [LO 6-4, LO 6-5) [The following information applies to the questions displayed below) Hair World Incorporated is a wholesaler of hair supplies. Hair World uses a perpetual Inventory system. The following transactions (summarized) have been selected for analysis: $ 51,200 a. Sold merchandise for cash (cost of merchandise $28,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $220). c. Sold merchandise (costing $4,750) to a customer on account with torma /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) had not yet paid. . Anticipate further returns of merchandise (conting $140) after year-end from sales made during the year. 250 10,000 5,000 160 350 PA6-3 (Static) Part 1 Required: 1. Compute Net Sales and Gross Profit for Hair World Net Sales Gross Profit $ 60.440 Step by Step Solution
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