A mall-based accessories store had the following information. Cost Retail Opening book inventory $425,000 $1,755,000 Net sales $655,000 Markdowns $226,000 Purchases $215,000 $750,000 Returns to vendors $4,250 $13,250 Transfers to other stores $5,500 Customer returns $33,000.

 What is the closing book inventory at retail? 

What is the markup percentage on total merchandise handled? 

What is the closing book inventory at cost?

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Inventory and Sales Calculations Heres how to calculate the closing inventory at retail markup percentage and closing inventory at cost for the mallba... View the full answer