7. Calculate the July closing book inventory for Boys' 4-7 at retail given the following: $98,000 Opening book inventory Net sales $16,000 Markdowns $4,500 Purchases $27,500 Returns to vendor $3,000 8. Calculate the April closing book inventory for the New York store given the following information (all figures are in retail value): Opening book inventory $221,000 Net sales $27,400 Markdowns $9,100 $37,000 $8,100 Purchases Returns to vendors Transfers to the New Jersey store Transfers from the Connecticut store $1,500 $2,700