! Required information CP6-3 (Algo) Recording Cash Sales, Credit Sales, Estimated and Actual Sales Returns, and Sales Allowances, and Analyzing Gross Profit Percentage [LO 6-4, LO 6-6) [The following information applies to the questions displayed below.] Cooper Books, is a student co-op. Cooper Books uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis o. Sold merchandise for cash (cost of merchandise $156,270) b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise 5612). C. Sold merchandise (costing $9,278) to customer on account with terms n/30. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (.) had not yet paid. f. Anticipate further returns of merchandise (costing 5205) after month-end from sales made during the month. $ 283, 250 1,640 20,6ee 10,300 1,160 730 CP6-3 (Algo) Part 2 2. Compute the gross profit percentage (Round your answer to 1 decimal place.) Gross Profit Percentage