Nugget's Instruments, merchandisers of musical instruments, has provided the following details: Mar 5 Inventory purchased on account $775,000 Mar 8 Freight in 30,000 Mar. 13 Purchase returns 50,000 Mar 14 Allowances by vendor 14,000 Payment made to the vendor for purchases on Mar. 20 March 5 7 Credit terms are 3/20, 1/45, FOB shipping point. Calculate the net cost of Inventory purchased assuming that there are no other inventory-related transactions during the month. Assume that the perpetual Inventory system is used