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please solve thank you Required information PA6-3 (Algo) Recording Sales with Discounts and Estimated and Actual Returns, and Analyzing Gross Profit Percentage (LO 6-4, LO
please solve thank you
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) 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 $32,037). $ 56,96 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $310). c. Sold merchandise (costing $7,315) to a customer on account with terms n/68. 15,400 d. Collected half of the balance owed by the customer in (c). 7,700 e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. f. Anticipate further returns of merchandise (costing $230) after year-end from sales made during the year. 340 178 35e PA6-3 (Algo) Part 4 4. Hair World is considering a contract to sell merchandise to a hair salon chain for $33,000. This merchandise will cost Hair World $21700. What would be the increase or decrease) to Hair World's gross profit and gross profit percentage? (Round "Gross Profit Percentage" to 1 decimal place.) by Gross Profit Gross Profit Percentage to % Step by Step Solution
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