As a part of your job, you are asked to find the book inventory @ retail and @ cost with the following data from May.

As a part of your job, you are asked to find the book inventory @ retail and @ cost with the following data from May.

  •                                                                                   Cost                                   Retail
  • Opening inventory                                                     $44,800                            $62,400
  • Net purchases                                                           13,116                                29,710
  • Freight                                                                          160
  • Net transfers out (use as reduction)                      244                                         718
  • Gross sales                                                                                                             28,368
  • Customer returns                                                                                                 3,134
  • Net markdowns                                                                                                   1,724
  • Employee discounts

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