(10 points) A gift store reported the following records for its operation during the month of February 2019. Cost Retail Opening inventory $400,000 S785,000 Gross purchases S650,000 $1.295,000 RTV $7,500 S14,000 Gross sales $957,000 Markdowns $98,000 Customer returns $35,000 a) What was the book value of the closing inventory at retail in February 20192 (2 points) b) What was the cumulative markup% of total merchandise handled in February 2019? (3 point) Cost Retail Opening Inv. $400,000 $785,000 + Purchases S650,000 $1,295.000 - Returns to vendors $7,500 $14,000 = TMH $1,042,500 $2,066,000 c) What was the book inventory at cost on February 28, 2019 when the store closed? (1 point) d) The physical inventory at retail taken after closing the store on February 28, 2019 amounted to $378,000. Did this store experience a shortage or an overage or neither? (1 point) e) Suggest three actions you could take to minimize the shortage/overage amount? (3 points)