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Jackson Company reported the following information relating to its inventory: purchases ......$89,000 freight-out .......$3,000 purchase returns .......... ? cost of goods sold ..........83,000 beginning inventory
Jackson Company reported the following information relating to its inventory:
purchases ......$89,000
freight-out .......$3,000
purchase returns .......... ?
cost of goods sold ..........83,000
beginning inventory .......34,000
purchase discounts ........8,000
freight-in ....................... 5,000
ending inventory ............14,000
Calculate the amount of Jackson Company's purchase returns.
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