July 12 Rockland sold merchandise to Kristina Zee at its factory store. Kristina paid for the $300 purchase in cash. The goods cost Rockland $160. 15 Sold merchandise to Shoe Express at a selling price of $5,000, with terms n/30. Rockland's cost was $3,000. 23 Shoe Express returned $1,000 of the shoes purchased July 15. The returned shoes were in perfect condition and had cost Rockland $600. 31 Shoe Express paid the balance owing after July 15 and 23. What is the Gross Profit percentage for Rockland Shoes computed in the video? Round to 1 decimal place such as 10.2. M6-7 Recording Journal Entries for Purchases, Purchase Returns, Sales, and Sales Returns Using a Perpetual Inventory System LO 6-39,6-40 During its first year of operations, Tron Auto Dealership (TAD) bought vehicles from a manufacturer on account at a cost of $608,000. TAD returned $152,000 of these vehicles to the manufacturer for credit on its account. TAD then sold $380.000 of the remaining vehicles at a selling price of $685,000. TAD's customers rarely return vehicles, so TAD records sales returns only as they occur. One customer did return a vehicle to TAD, which had been sold to the customer for $137,000. The vehicle was in perfect condition, so it was put back into TAD's inventory at TAD's cost of $76,000. Prepare journal entries to record these transactions, assuming TAD uses a perpetual inventory system. What are Net Sales for Tron Motors? What is Cost of Goods Sold for Tron Motors