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.] Hughes Hair Design is a wholesaler of hair supplies. Hughes Hair Design uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold morehandise for cash (cost of merchandise $32,397 ). b. Received merchandise returned by custoners as unsatisfactory (but in perfect condition) $57,600 for cash refund (original cost of merchandise $320 ). 0.Soldmerchandire(costing$7,600)toacustoseronaceountwithtermsn/60.d.Collectedhalfofthebalanceonedbythecustonerin(c).t.Grantedapartialallowancerelatingtocredit350 e. Grant paid. f. Anticipate further returnn of nerchandise (costing $240) after year-end tron ales made. 180 daring the year. PA6-3 (Algo) Part 2 2. Compute the gross profit percentage, (Round your answer to 1 decimal place.)