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: $75,200 a. Sold merchandise for cash (cost of merchandise $40,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $540) C. Sold merchandise (costing 57,600) to a customer on account with terms in/6 d. Collected half of the balance owed by the customer in (c) e. Granted a partial allowance relating to credit sa the customer in (c) had not yet paid. 900 16,000 8,000 256 2. Compute the gross profit percentage (Round your answer to 1 decimal place Gross Profit Percentage