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Required information (The following information applies to the questions displayed below.) Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis $91,200 0:12 a. Sold merchandise for cash (cost of merchandise $48,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $660 ). C. Sold merchandise (costing $9,500 ) to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1,100 20,000 10,000 320 ences Required: 1. Compute Net Sales and Gross Profit for Hair World. Net Sales Gross Profit Required information (The following information applies to the questions displayed below.] Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $91,200 a. Sold merchandise for cash (cost of merchandise $48,792) b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $660 ). c. Sold merchandise (costing $9,500 ) to a customer on account with term n/60. d. collected half of the balance owed by the customer In (). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1,100 20,000 10,000 328 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage Required information (The following information applies to the questions displayed below) -of 4 Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $91,200 01:29:13 a. Sold merchandise for cash (cost of merchandise $48,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $660 ). c. Sold merchandise (costing $9,500 ) to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1,100 20,000 10,000 320 eBook ferences 4. Hair World is considering a contract to sell merchandise to a hair salon chain for $25,000. This merchandise will cost Hair World $14,800. What would be the increase for decrease) to Hair World's gross profit and gross profit percentage? (Round "Gross Profit Percentage" to 1 decimal place.) Gross Profit Gross Profit Percentage