Question

Calculate (a) total merchandise handled and (b) closing book inventory. (Factors may not be listed in...

Calculate (a) total merchandise handled and (b) closing book inventory. (Factors may not be listed in the order to be used)

Opening inventory: $76,728

Gross purchases: 117,317

RTV: 2,117

Transfers in: 1,184

Transfers out: 1,276

Additional markup: 126

Gross sales: 77,843

Customer returns: 3,982

Markdowns: 5,816

Markdown cancellations: 390

Employee discounts: 1,908

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