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 Sold merchandise for cash cost of merchandise $156,270) 6. Heceled merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund Coriginal cost of merchandise 5612) Sald erchandise (costing 39,270) to customer on account with terms / d. Collected half of the balance sued by the custor (0) Granted a partial allowance relating to credit sales the customer in (c) had not yet pasd. #. Anticipate further returns of merchandise (costing 520) after onth-end from sales de during the month $ 23,250 1.640 20. 10.300 CP6-3 (Algo) Part 1 Required: 1. Compute Net Sales and Gross Profit for Cooper Books Net Sales Gross Pro 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 Sold merchandise for cash cost of merchandise $156,270) 6. Heceled merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund Coriginal cost of merchandise 5612) Sald erchandise (costing 39,270) to customer on account with terms / d. Collected half of the balance sued by the custor (0) Granted a partial allowance relating to credit sales the customer in (c) had not yet pasd. #. Anticipate further returns of merchandise (costing 520) after onth-end from sales de during the month $ 23,250 1.640 20. 10.300 CP6-3 (Algo) Part 1 Required: 1. Compute Net Sales and Gross Profit for Cooper Books Net Sales Gross Pro