Assuming the periodic inventory method is used for the current year, the following data were taken from
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Question:
Assuming the periodic inventory method is used for the current year, the following data were taken from the accounting records:
Sales 450,000
Sales return and allowance 15,000.
Purchas 250,000
Purchase return and allowance 4,000
Discount receive 2,000
Freight in 1,000
Beginning inventory 45,000
Ending inventory 65,000
What was the amount for net purchases?
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