Recording sales with discounts an estimated an actual returns and analyzing gross profit percentage

-compute net, sales and gross profit for Ramos hairstyling

Ramos Hair Styling is a wholesaler of hair supplies. Ramos Hair Styling uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise 334,197 ). b. Recelved merchandise returned by customens as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $370 ). c. Sold ferchandise (costing $9,825 ) to a custorer on account with terms n/6e. d. collected half of the balance owed by the customen in (c). 5. Cranted a partisl allowance relating to credit sales the custorer in (c) lad not yet paid. f. Anticipate further returns of merchandise (costing 820e) after yeartend frot salef made during the year. 1. Compute Net Sales and Gross Profit for Ramos Halr Styling