Return to question Analyzing Gross Profit Percentage [LO 6-4, LO 6-6) [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: $289,900 a. Sold merchandise for cash (cost of merchandise $158,710). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $900). c. Sold merchandise (costing $12,150) 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 cstomer in (e) had not yet paid. 1,700 27,000 13,500 1,940 CP6-3 Part 2 2. Compute the gross profit percentage. (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Gross Profit Percentage 49.92