Wahoo Company uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $158,710). $ 312,127 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $900). 1,700 c. Sold merchandise (costing $12,150) to a customer on account with terms n/30. 25,544 d. Collected half of the balance owed by the customer in (c). 13,500 e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1,940 Compute gross profit for Wahoo Company