Quick Book inventory question

 
 
 
As a part of your job, you are asked to find the book inventory @ retail and @ cost with the following data from May.

                                                                                  Cost                                   Retail       
Opening inventory                                                     $44,800                            $62,400
Net purchases                                                           13,116                                29,710
Freight                                                                          160
Net transfers out (use as reduction)                      244                                         718
Gross sales                                                                                                             28,368
Customer returns                                                                                                 3,134
Net markdowns                                                                                                   1,724
Employee discounts                                                                                            265

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