10) Precision Musical Instruments, merchandisers of musical instruments, has provided the following details: Mar. 5 Inventory purchased on account $800,000 Mar. 8 Freight in 30,000 Mar. 13 Purchase returns 60,000 Mar. 14 Allowances by vendor 10,000 Mar. 20 Payment made to vendor for purchases on March 5 Credit terms are: 4/20, n/45, FOB shipping point. Calculate the net cost of inventory purchased assuming that are no other inventory-related transactions during the month. Assume that the perpetual inventory system used. A) $790,000 B) $729,600 C) $730,800 D) $730,000