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Betty's company reported the following information relating to its inventory for 2020: sales revenue ............................. $457,000 freight-in ................................ 11,200 purchase returns .......................... 16,500 beginning inventory

Betty's company reported the following information relating to its inventory for 2020:

sales revenue ............................. $457,000

freight-in ................................ 11,200

purchase returns .......................... 16,500

beginning inventory ....................... 55,000

purchases ................................. 329,800

freight-out ............................... 10,900

sales returns & allowances ................ 15,000

purchase discounts ........................ ?

The company also reported the following financial statement ratios:

inventory turnover ratio .................. 4.12

gross profit rate ......................... 44%

Calculate the amount of purchase discounts reported by Betty's company during 2020.

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