of 4 ped Required information PA6-3 (Algo) 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.] Ramos Hair Styling is a wholesaler of hair supplies. Ramos Hair Styling uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $34,197). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $370). c. Sold merchandise (costing $9,025) to a customer on account with terms n/60. $ 60,800 400 d. Collected half of the balance oved by the customer in (c). 19,000 9.500 e. Granted a partial allowance relating to credit sales the customer in (e) had not yet paid. 190 f. Anticipate further returns of merchandise (costing $290) after year-end from sales made during the year. 410 PA6-3 (Algo) Part 2 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage %