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Required information (The following information applies to the questions displayed below] Campus Stop, Inc. is a student coop. Campus Stop uses a perpetual inventory system.
Required information (The following information applies to the questions displayed below] Campus Stop, Inc. is a student coop. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis 5297,000 0. Sold merchandise for cash (cost of merchandise $162,270) b. Received merchandise returned by customers as unsatisfactory out in perfect condition) for cash refund (original cost of merchandise $950), c. Sold merchandise (costing $13,500 to a customer on account with terms n/30. d. Collected half of the balance owed by the customer in (c) . Granted partial allowance relating to credit sales the customer in (e) had not yet paid. 1,750 30,000 15,000 2,000 4. Campus Stop is considering a contract to sell merchandise to a campus organization for $25,000. This merchandise will cost Campus Stop $15.000 Would this contract increase for decrease) Campus Stop's dollars of gross profit and its gross profit percentage? TIP The impact on gross profit dollars may differ from the impact on gross profit percentage (Round "Gross Profit Percentage to 1 decimal place.)
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