49 50 51 76 19. 47 Given the following information, calculate the gross cost of merchandise sold: 48 Cost Retail opening inventory $164,250.00 $365,000.00 gross purchases $83,250.00 $185,000.00 returns to vendors $6,750.00 $15,000.00 252 net purchases 253 freight $2,500.00 total merch handled CMU = net sales $150,000.00 cost % = 256 net markdowns $30,000.00 257 employee discounts $5,000.00 total retail deductions 259 closing book inventory closing physical inventory $320,000.00 gross cost of merch sold 262 263 254 255 258 260 261