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 265
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