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Determine the shortage or overage percent

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Question - 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

Reference no: EM133158396

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