Question: Hello! All the work is done but I am missing the last question. Unfortunately I posted the question and the answer was wrong. They said
Hello! All the work is done but I am missing the last question. Unfortunately I posted the question and the answer was wrong. They said 6.36% rounded would be 6.4% But it is still wrong, please help. Thank you!



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The following information applies to the questions displayed below.] Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $145,950). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for $261,800 cash refund (original cost of merchandise $710). c. Sold merchandise (costing $6,300) to a customer on account with terms 2/10, 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 paid. 1660 14,000 6,860 1,680 References Section Break CP6-3 Recording Cash Sales, Credit Sales, Sales Discounts, Sales Returns, and Sales Allowances and Analyzing Gross Profit Percentage [LO 6-4, LO 6 5 value: 10.00 points CP6-3 Part 1 Required 1. Compute Sales Revenue, Net Sales, and Gross Profit for Campus Stop. Sales Revenue Net Sales Gross Profit 275,800 $272,320 $ 120,780 2. Compute the gross profit percentage. (Round your answer to 2 decimal places.) Gross Profit Percentage 44.35 % 3. Prepare journal entries to record transactions (a)-(e). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Cash 261,800 Sales Revenue 261,800 a(2) Cost of Goods Sold 145,950 145,950 Sales Returns and Allowances 1,660 Cash 1,660 b(2) Inventory 710 Cost of Goods Sold 710 Accounts Receivable 14,000 Sales Revenue 14,000 c(2) Cost of Goods Sold 6,300 6,300 Cash 6,860 140 Sales Discounts 7,000 Sales Returns and Allowances 1,680 1,680 4. Campus Stop is considering a contract to sell merchandise to a campus organization for $11,000. This merchandise will cost Campus Stop $10,300. What would be the increase or decrease to Campus Stop's gross profit and gross profit percentage? TIP: The impact on gross profit (a dollar amount) may differ from the impact on gross profit percentage. (Round "Gross Profit Percentage" to 1 decimal place.) Gross Profit increased by 700 Gross Profit Percentage decreased to
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