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Required information [The following information applies to the questions displayed below.] Ramos Hair Styling is a wholesaler of hair supplies. Ramos Hair Styling uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) $55,040 a. Sold merchandise for cash (cost of merchandise $30,957 ). for cash rofund (original cost of merchandise $280 ). c. Sold merchandise (costing $6,460 ) to a customer on necount with torms n/60. d. Collected half of the balance owed by the customer in (c). c. Granted a partial allowance relating to oredit sales the customer in (c) had not yet f. Anticipate further returns of merchandise (costing $200 ) after year-end froo sales made during the year. 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) [The following information applies to the questions displayed below.] Ramos Hair Styling is a wholesaler of hair supplies. Ramos Hair Styling uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold morchandise for cash (cost of merchandise $30,957 ). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) $55,040 for cash refund (original cost of merchandise $280 ). c. Sold morchandise (costing $6,460 ) to a customer on account with terms n/60. 13,600 d. collected half of the balance owed by the customer in (c). 6,800 e. Granted a partial allowance relating to credit sales the customer in (c) had not yot paid. f. Anticipate further returns of merchandise (costing $200 ) after year-end fron sales made during the year. 4. Ramos Hair Styling is considering a contract to sell merchandise to a hair salon chain for $27,000. This merchandiseiwill cost Rame Hair Styling $17,800. What would be the increase (or decrease) to Ramos Hair Styling gross profit and gross profit percentage? (Round "Gross Profit Percentage" to 1 decimal place.)

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