Required Information PA6-3 (Static) Recording Sales with Discounts and Estimated and Actual Returns, and Analyzing Gross Profit Percentage LO 6-4, LO 6-5) [The following information applies to the questions displayed below) Hair World Incorporated is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. sold merchandise for cash coat of merchandise $20,797). $ 51.200 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise 5220) 250 c. Bold merchandise coating $4,750) to a customer on account with term n/60. 10,000 di collected ball of the balance oved by the customer in (e). 5,000 .. Granted a partial allowance relating to credit sales the customer inte had not yet paid. f. Anticipate further return of merchandise (costing 5140) after yede-end from sales made yede-end during the year. 160 350 PA6-3 (Static) Part 2 PA6-3 (Static) Part 2 2. Compute the gross profit percentage (Round your answer to 1 decimal place.) Answer is complete but not entirely correct. Gross Profit Percentage 55 1 %