I wouldn't like it or accept it and would use my powers of parent-veto (even though it was her allowance money) to offer to bring her back to the store with her receipts so she could make some better choices. I have a feeling that the choices she made were more for her friend's benefit rather than her own. You know... my money, my choice, my mom's not here, I can do what I want, see? Ha ha ha!
So I'd give your daughter that way out. Let her know that some of the things she picked are cute if only she were in her 20's. If anything can be considered appropriate such as if it can be worn with something else... like can the short shorts be worn under a cute skirt that you like but is cutting it closely regarding how short it is? Or are they the kind of shorts that you can put a layer of capri leggings under? Can a top be worn as an underneath layer for another shirt that's too short?
Help her find bras that fit her, since at this age she probably doesn't know she can get them fitted and just pulled them off the rack. Get those returned and help her find something that fits and is pretty. If the make-up is unopened, help her exchange it to a color palette that flatters her and teach her how to apply it and use it for special occasions. Allow it for Fridays if she can figure out how to use it subtly.
She needs to know you want her to still be stylish, but you still get some say in how the clothes will be presented. This is working for me with my 13 year old. She has some pretty, soft make-up that I bought for her that brings some sparkle to her cheeks and lips and other than that, she's happy. The rest is too fussy to her. Her friends dab a little mascara on her, but it's never really too noticeable... the girls just want to say that they're wearing makeup. They're good girls. They all have something a bit risque if worn on its own, but we (the moms) have taught them to pair it up with something else so it's more of an accessory and it's not the focus of their outfits.
I'd also return those books with her. Just talk with her and make sure she feels like she's part of the decision-making.
EDIT: I realize it sounds like I'm suggesting being soft on her, but I'm not. What you have to do is lay down the law and be the parent but you also have to make sure that your daughter feels like she's part of the process. Because there's no way in hell my daughter would walk out the door in the clothes and make-up you described but I've also learned that some things can't be a complete NO NO NO. If something just can't be redeemed at all, or she reacts poorly no matter how you approach this, then she loses all chance at you trying to work it through with her and teaching her rather than using a heavy hand. My real point is to use this as a teaching moment and maybe even a bonding moment while you also discipline her.