Based on the value below please answer the following questions:

Opening inventory $ 58,670

Net purchases 219,000

Gross sales 145,000

Customer returns 5,932

Net markdowns 21,045

Employee discounts 904

Estimated shortages 1.15%

a. Calculate book inventory (Hint: Net trans in and additional markup are 0 here)

b. Calculate estimate shortage (Estimate shortage = Net sale x shortage percent)

c. Calculate estimate physical inventory (Estimate physical inventory = Book inventory Estimate shortage)