Question: Net additional markups were $ 2 0 0 , 0 0 0 and net markdowns were $ 4 8 0 , 0 0 0 .

Net additional markups were $200,000 and net markdowns were $480,000.
Based on prior experience, shrinkage due to shoplifting was estimated to be $32,000 of retail value.
Merchandise is sold to employees at a 25% of selling price discount. Employee sales are recorded in a separate account at the net selling price. The balance in this account at the end of 2024 is $300,000.

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