tcation Se xC MeGra-Hill Connect tps/ 6 Homework (Algo) Chapter 6 Homework (Algo) MHE 0 Required informetion 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: a. Sold merchandise for cash (cost of serchandise $34, 797) 563,209 refund (original cost of merchandise $450 ) c. Sold rchandise (costing $6,175 ) to custoner on account with terms n/68 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 6,500 Required: 1 Compute Net Sales and Gross Profit for Hair World Net Sales Gross Prof