7. Calculate: (a) shortage or overage % (b) cumulative markup % (c) maintained markup % (d) gross margin % (12 points) Given: Cost $ 27,528 15,400 180 1,150 1,280 790 Retail $ 46,800 31,420 340 2,200 2,480 Opening inventory Gross purchases Returns to vendors Transfers in Transfers out Freight Additional markup Markdowns Markdown cancellations Gross sales Customer returns Employee discounts Cash discounts Alteration costs Closing physical inventory 405 5,340 480 35,680 3,640 230 980 130 40,280 7. Calculate: (a) shortage or overage % (b) cumulative markup % (c) maintained markup % (d) gross margin % (12 points) Given: Cost $ 27,528 15,400 180 1,150 1,280 790 Retail $ 46,800 31,420 340 2,200 2,480 Opening inventory Gross purchases Returns to vendors Transfers in Transfers out Freight Additional markup Markdowns Markdown cancellations Gross sales Customer returns Employee discounts Cash discounts Alteration costs Closing physical inventory 405 5,340 480 35,680 3,640 230 980 130 40,280