Required Information [The following wiormation applies to the questions dispieyed beiow.] Cooper Books, is a...
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Required Information [The following wiormation applies to the questions dispieyed beiow.] Cooper Books, is a student co-op. Cooper Books uses a perpetual Inventory system. The following transadlons (summarized) have been seleded for analysls: o. Sold merchandise for cash (cost of merchandise \$156,279). b. Received merchandise returned by customers as unstisfactory (but in perfect condition) for cash refund (original cost of merchandise \$612). c. Sold merchandise (costire $,279 ) to a customer on accourt with terms n/39. a. Collect od half of the belance owed by the customer in (c). e. Grant a partial allowance relatire to credit sales the customer in (c) had not yet paid. f. Anticipate further returns of merchandise (costire $296 ) sfter month-end from sales made durire the month. \$ 283,259 1,649 29,699 10,390 1,169 739 Requlred: 1. Compute Net Sales and Gross Profit for Cooper Books
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