perpetual inventory system is used. A. $732,350 B. $720,000 C. $785,000 D. $733,400

Precision Musical Instruments, merchandisers of musical instruments, has provided the following details: Mar. 5 Mar. 8 Mar. 13 Mar. 14 Mar. 20 Inventory purchased on account Freight in Purchase returns Allowances by vendor Payment made to vendor for purchases on March 5 $800 35,000 65,000 15,000 Credit terms are: 3/20, n}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. O D. $732,350 $720,000 $785,000 $733AOO