O 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 a. Sold merchandise for cash cost of merchandise $28,797) $ 51,200 b. Received merchandise returned by customers an unsatisfactory (but in perfect condition) for cash refund original cost of merchandise 5220) e. Sold merchandise (coating $4,750) to a customer on account with term n/60. 10,000 d. Collected host of the balance oved by the customer in (e) 5,000 e. Granted a partial allowance relating to credit rates the customer in (e) had not yet paid. 1. Anticipate further return of merchandise (costing $140) after year-end from sales made during the year. 350 250 160 PA6-3 (Static) Part 1 PA6-3 (Static) Part 1 Required: 1. Compute Net Sales and Gross Profit for Hair World Answer is complete but not entirely correct. $ Not Sales Gross Profit 60.440 27.113 $