59 60 7. 61 Calculate the total merchandise handled given the following information. 62 You may not need all of the information you have been provided: 63 Retail opening inventory $235,000.00 gross purchases $160,000.00 returns to vendors $35,000.00 net purchases transfers out $15,000.00 additional markup $5,000.00 total merch handled gross sales $65,000.00 customer returns $13,000.00 net markdowns $17,000.00 employee discounts $3,500.00 total retail deductions closing book inventory