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3. Determine Book Inventory @Cost, given following information Opening inventory Net purchases Freight Retail $52,914 28,709 Cost $34,890 12,116 120 Net transfers out (use as

3. Determine Book Inventory @Cost, given following information Opening inventory Net purchases Freight Retail $52,914 28,709 Cost $34,890 12,116 120 Net transfers out (use as reduction) 344 818 29,368 Gross sales o Customer returns o Net markdowns Employee discounts 2,134 1,024 362

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