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Required information [The following information applies to the questions displayed below.) Handy Howard's Incorporated, is a student co-op. Handy Howard uses a perpetual Inventory system. The following transactions (summarized) have been selected for analysis Bold merchandise for cash (cont of merchandise $164,670). $ 299.750 beceived nerchandise returned by customers as instintactory (but in perfect condition) for cash refund (original cost of merchandise 5636). 1,730 c. Sold merchandise (costing 39,810) to customer on account with termen/30 21.000 di collected bait or the balance oved by the customer in te 10,900 Granted a partial allowance relating to credit sales the customer inte had not yet paid. 1,200 7. Ant le pate further returns of merchandise (costing 9210) after month-end from sales made during the month 790 Required: 1. Compute Net Sales and Gross Profit for Handy Howard. Net Sales Gross Profit Required information [The following information applies to the questions displayed below.) Handy Howard's Incorporated, is a student co-op. Handy Howard uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $ 299,750 a. Sold merchandise for cash cost of merchandise $164,670). b. Received merchandise returned by customers an unsatisfactory (but in perfect condition for cash refond (original cost of merchandise $636). c. Sold merchandise (costing 59, 810) to a customer on account with term n/30 d. Collected holt of the balance owed by the customer in (a) e. Granted a partial allowance relating to credit sales the customer in (o) had not yet paid. Anticipate further returns of merchandise (couting $218) after month-end from walos made during the month 1,730 21,800 10,900 1,280 790 2. Compute the gross profit percentage (Round your answer to 1 decimal place.) Gross Pro Porcentage

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