Requirea information PA6-3 Recording Sales with Discounts and Returns and Analyzing Gross Profit Percentage (LO 6-4, LO 6- 5) [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: $19,200 2. Sold merchandise for cash (cost of merchandise $12,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $120). c. Sold merchandise (costing $2,850 ) to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in (e). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 200 6,000 3,000 96 PA6-3 Part 1 Required: 1. Compute Net Sales and Gross Profit for Hair World. Net Sales Gross Profit Required information PA6-3 Recording Sales with Discounts and Returns and Analyzing Gross Profit Percentage [LO 6-4, LO 6- 5] [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: $19,200 a. Sold merchandise for cash (cost of merchandise $12,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $120). c. Sold merchandise (costing $2,050 to a customer on account with terms n/60. d. Collected half of the balance oved by the customer in (e) e. Granted a partial allowance relating to credit sales the customer in (e) had not yet paid. 200 6,000 3,000 96 PA6-3 Part 2 2. Compute the gross profit percentage (Round your answer to 1 decimal place.) Gross Profil Percentage % 80 Dod 000 75 Di FB $ % &