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.] Chander Bookstore, is a student co-op. Chander Bookstore uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold morchandise for canh (cont of merehandise $170,270 ). b. Received merehandise returned by cuntomers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandine $652 ). c. Sold merchandise (costing $10,170 ) to a custoner on account with terms n/30. -. Granted a partial allowance relating to oredit soles the customer in (c) had not yet pald. 11,300 d. collected half of the balance owed by the custoser in (c). f. Antieipate further returne of merchandise (costing $226 ) after month-end from salea made during 830 . the month. CP6-3 (Algo) Part 2 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.)