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5. Calculate: (a) closing book inventory (b) gross cost of merchandise sold () gross margin % (10 points) Cost $ 25,200 119,700 980 Retail $ 42,800 210,300 Opening inventory Net purchases Freight Additional markup Net markdowns Net sales Employee discounts Cash discounts Alteration costs Closing physical inventory I 480 18,720 195,760 860 1,796 398 36,674