PB6-3 (Algo) Recording Sales and Estimated and Actual Returns, and Analyzing Gross Profit Percentage [LO 6-4, LO 6-5] Skip to question [The following information applies to the questions displayed below.] Sanders Lumber & More (SLM) is a local hardware store. SLM uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $268,350). $610,000 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $2,375). 3,800 c. Sold merchandise (costing $4,320) to a customer on account with terms n/30. 7,200 d. Collected half of the balance owed by the customer in (c). 3,600 e. Granted a