Using the following figures, determine closing book inventory (not all information given may be needed): Opening inventory

Question

Using the following figures, determine closing book inventory (not all information
given may be needed):
Opening inventory $89,760
Gross purchases $43,620
RTV $860
Cash discounts $320
Markdowns $5,246
Markdown cancellations $318
Employee discounts $784
Gross sales $49,318
Customer returns $2,945
Net markups $760

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