Required information The following information applies to the questions displayed below) Hair World Inc is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis. $43,2ee a. Sold merchandise for cash cost of merchandise $74,797). B. Hecelved merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $300 ). C. Sold merchandise (costing 54,275 ) to a customer on account with terms 1/60. 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 poid. 500 9,000 4,500 144 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Prolit Percentage 5 to search