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a. Sold merchandise for cash (cost of merchandise $20,797). $ 35,200 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $240 ). 400 c. Sold merchandise (costing $3,800 ) to a customer on account with terms n/60. 8,000 d. Collected half of the balance owed by the customer in (c). 4,000 e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 128 Hair World is considering a contract to sell merchandise to a hair salon chain for $13,000. This merchandise will cost Hair World $9,040. What would be the increase (or decrease) to Hair World’s gross profit and gross profit percentage?

Respuesta :

Answer:

The Gross profit will be "18315".

Explanation:

Gross sales  

= [tex]35200+8000[/tex]

= [tex]43200[/tex]

Less:

Sales return

= [tex]-400[/tex]

Less:

Sales allowance

= [tex]-128[/tex]

The net sales will be

= 42672

So,

⇒  Cost of goods sold = [tex]20797+3800-240[/tex]

                                      = [tex]24357[/tex]

⇒  Gross Profit = [tex]Net \ Sales-Cost \ of \ goods \ sold[/tex]

                          = [tex]42672-24357[/tex]

                          = [tex]18315[/tex]

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