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Presented here are selected transactions for Alpine Tours Inc. during September of the current year. Alpine Tours uses a perpetual inventory system. Alpine Tours estimates

Presented here are selected transactions for Alpine Tours Inc. during September of the current year. Alpine Tours uses a perpetual inventory system. Alpine Tours estimates a return rate of 5% based on past experience.

Sept. 2 Purchased equipment on account for $62,300, terms n/30, FOB destination.
3 Freight charges of $960 were paid by the appropriate party on the September 2 purchase of equipment.
4 Purchased supplies for $4,400 cash.
6 Purchased inventory on account from Winterholt Company at a cost of $68,300, terms 1/15, n/30, FOB shipping point.
7 Freight charges of $1,800 were paid by the appropriate party on the September 6 inventory purchase.
8 Returned damaged goods costing $4,900 that were originally purchased from Winterholt Company on September 6. Received a credit on account.
9 Sold goods costing $14,300 to Fischer Limited for $21,400 on account, terms n/30, FOB destination.
10 Freight charges of $410 were paid by the appropriate party on the September 9 sale of inventory.
17 Received the balance due from Fischer.
20 Paid Winterholt Company the balance due.
21 Purchased inventory for $6,000 cash.
22 Sold inventory costing $21,600 to Kun-Tai Inc. for $24,300 on account, terms n/30, FOB shipping point.
23 Freight charges of $400 were paid by the appropriate party on the September 22 sale of inventory.
28 Kun-Tai returned goods sold for $1,100 that cost $760. The merchandise was restored to inventory.

b) Determine Alpine Tourss sales and cost of goods sold for September.

c) Calculate Alpine Tourss gross profit as a dollar amount and the gross profit margin as a percentage. (Round gross profit margin to 1 decimal place, e.g. 15.2%.)

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