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Returns Processing

I have a requirement which I need help from all the Gurus out here.

For one of the product family, the return process needs a bit customization. When the customer returns the good within 30 days, we want to put those goods in a pool, say "Like new" and use that pool for new orders. When the customer return between 30 and 90 days, those should go in a pool "Refurbished" and would be sold differently. Any returns after 90 days is not entertained.

How should I put this on the system?

Any suggestion would be appreciated.

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