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The following information applies to the questions displayed below Hair World Inc. is a wholesaler...

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Accounting

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The following information applies to the questions displayed below Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $18,797) b. Received merchandise returned by customers as unsatisfactory (but in perfect $31,200 350 condition), for cash refund (original cost of merchandise $210). c. Sold merchandise (costing $3,563) to a customer, on account with terms 2/MO, n/30. d. Collected half of the balance owed by the customer in (c) within the discount period. e. Granted a partial allowance relating to credit sales that the customer in (c) had not yet 7,500 3,675 120 Granted a partial llowance relating o paid Required: 1. Compute Sales Revenue, Net Sales, and Gross Profit for Hair World. Sales Revenue Net Sales Gross Profit 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage

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