I don't think I really punish my children, often if at all. I talk to them. It doesn't seem to have turned them into delinquents as yet.
DC1 isn't really naughty, she's not perfect, by any means, but she is generally well behaved and honest.
DC2 has ADHD, so is slightly different, she has poor impulse control, so punishing her would be pointless a lot of the time, she's not doing what she is doing to be naughty, she doesn't know why she does some of the things she does and usually instantly regrets it, but again I just talk to her and explain why what she has done is wrong, ask her what she thinks she should do differently next time and what reparations she thinks she should make eg. buying DC1 a new itunes voucher from her pocket money and then it's forgotten about.
For an incident like this, I'd do the same with DC2, talk to her, as calmly as I could manage and ask how she/we should pay back the money and probably stop her pocket money for the foreseeable future.
DC1 has a better understanding of finances so would be 'punished' more as I would see it as 'naughtier' than if it was DC2, iyswim? I still wouldn't sell her things, shout at her or make her cry, I would explain that I was dissapointed in her actions and expect better from her. I'd take away her laptop for x amount of weeks and stop her pocket money, along with explaining the possible consequences of her actions (missed bill payments, no food shopping etc)
I don't see the point in draconian punishments and shouting. It doesn't really teach children anything useful, imo.