Required information [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: $260,100 a. Sold merchandise for cash (cost of merchandise $145,430). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $700). c. Sold merchandise (costing 55,85e) to a customer on account with terms 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. 1,650 13,000 6,500 1.660 2. Compute the gross profit percentage. (Round your answer to 2 decimal places.) Gross Profit Percentage