Nicole's Getaway Spa (NGS) has been so successful that Nicole has decided to expand her spa by selling merchandise. She sells things such as nail polish, at-home spa kits, cosmetics, and aromatherapy items. Nicole uses a perpetual inventory system and is starting to realize all of the work that is created when inventory is involved in a business. The following transactions were selected from among those completed by NGS in August.

Prepare journal entries for each transaction. No additional sales returns are expected.

Calculate the Sales Revenue and Cost of Goods Sold for the transactions listed above (but exclude Service Revenue for spa services).

What is Nicoles Getaway Spas gross profit percentage (excluding Service Revenue)?

August 2	Sold a bundle of spa services with a merchandise basket. When sold separately, the spa service part of the bundle sells for $672 and the merchandise basket normally sells for $168. Together, the bundle was sold to Val Amy for cash at a selling price of $720 (total). Val booked a spa treatment for August 10, and she took the basket of goods with her. The goods had cost NGS $165.
August 3	Sold 5 identical items of merchandise to Cosmetics R Us on account at a selling price of $770 (total); terms n/30. The goods cost NGS $670.
August 6	Cosmetics R Us returned one of the five items purchased on August 3. The item could still be sold by NGS in the future and credit was given to the customer.
August 10	Val Amy used one of the three spa treatments she had purchased as part of the bundle sold to her on August 2.
August 20	Sold two at-home spa kits to Meghan Witzel for $570 cash. The goods cost NGS $181.
August 22	Cosmetics R Us paid its remaining account balance in full.