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Need help with number 1, 2 and 4 please! Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following
Need help with number 1, 2 and 4 please!
Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $158,710). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) $289,900 for cash refund (original cost of merchandise $900). c. Sold merchandise (costing $12,150) to a customer on account with terms 2/10, n/30. d. Collected half of the balance owed by the customer in (c) within the discount period. e. Granted a partial allowance relating to credit sales that the customer in (c) had not yet paid. 1700 27,000 13,230 1.940 References Section Break CP6-3 Recording Cash Sales, Credit Sales, Sales Discounts, Sales Returns, and Sales Allowances and Analyzing Gross Profit Percentage [LO 6-4, LO 6-5 1.33 points CP6-3 Part 1 Required 1. Compute Sales Revenue, Net Sales, and Gross Profit for Campus Stop Sales Revenue Net Sales Gross ProfitStep by Step Solution
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