Question $6$

Based on the following figures, determine the shortage or overage percent.

Opening inventory $$292,000$

Gross purchases $521,000$

RTV $35,000$

Transfers in $10,500$

Transfers out $8,400$

Customer returns $51,500$

Gross sales $512,000$

Markdowns $14,200$

Employee discounts $3,100$

Closing physical inventory $276,700$