Required Information CP6-3 Recording Cash Sales, Credit Sales, 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) Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $289, see a. Sold merchandise for cash (cost of merchandise $158,710). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $900). c. Sold merchandise (costing $12,150) to a customer on account with teres 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 (c) had not yet paid. 1,700 27.000 13,500 1. CP6-3 Part 2 2. Compute the gross profit percentage. (Round your answer to 2 decimal places Dress Prott Percentage