83 84 9. 85 Given the following conditions determine: 86 A. Is there an inventory shortage or overage? 37 B. The inventory shortage or overage %: Retail opening inventory $325,000.00 gross purchases $165,000.00 returns to vendors $25,000.00 net purchases transfers in $10,000.00 total merch handled gross sales $125,000.00 customer returns $20,000.00 net sales net markdowns $15,000.00 employee discounts $2,000.00 total retail deductions 101 closing book inventory 102 closing physical inventory $350,000.00 shortage /overage $ 104 shortage / overage % 100 103 105