(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: $297.es Sold merchandise for cash (cost of merchandise $162,270) b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $950). c. Sold merchandise (costing $13,500) to a customer on account with terms w/3. d. Collected half of the balance owed by the customer in (). e. Granted a partial allowance relating to credit sales the customer in (c) Nad not yet paid 3e eee CP6-3 Part 4 4. Campus Stop is considering a contract to sell merchandise to a campus organization for $25,000. This merchandise will cost Campus Stop $15.000. Would this contract Increase or decrease Campus Stop's dollars of gross profit and its gross profit percentage? TIP. The Impact on gross profit dollars may differ from the Impact on gross profit percentage. (Round "Gross Profit Percentage" to 1 decimal place.) Gross PI Gross Profit per Required information CP6-3 Recording Cash Sales, Credit Sales, Sales Returns, and Sales Allowances and Analyzing Gross Profit Percentage [LO 6-4, LO 6-0) [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: a. Sold merchandise for cash cost of serchandise $162,270). b. Received terchandise returned by customers as unsatisfactory out in perfect condition) for cash refund (original cost of serchandise 5950). c. Sold merchandise (costing $13,500) to customer on account with terms n o . d. Collected that 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 pald. 1,750 10. 15.000 2,000 CP6-3 Part 1 Required: 1. Compute Not Sales and Gross Profit for Campus Stop. Answer is complete but not entirely correct. Net Sales Gross Proft 156.0303