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  1. business
  2. accounting
  3. a. sold merchandise for cash (cost of merchandise

a. Sold merchandise for cash (cost of merchandise $26,797). $47,200 b....

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Question

Accounting

a. Sold merchandise for cash (cost of merchandise $26,797). $47,200
b.

Received merchandise returned by customers as unsatisfactory (but in perfect condition), for cash refund (original cost of merchandise $330).

 550
c. Sold merchandise (costing $4,513) to a customer, on account with terms 2/10, n/30. 9,500
d. Collected half of the balance owed by the customer in (c) within the discount period. 4,655
e. Granted a partial allowance relating to credit sales that the customer in (c) had not yet paid 152
Required:
1. Compute Sales Revenue, Net Sales, and Gross Profit for Hair World.
2. Compute the gross profit percentage. (Round your answer to 1 decimal place.)(really nee dhtis on)

.

Hair World is considering a contract to sell merchandise to a hair salon chain for $14,500. This merchandise will cost Hair World $9,760. What would be the increase (or decrease) to Hair Worlds gross profit and gross profit percentage? (Round "Gross Profit Percentage" to 1 decimal place.)

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