Precision Musical Instruments, merchandisers of musical instruments, has provided the following details: Mar. 5 Mar. 8 Inventory purchased on account Freight in Mar. 13 Purchase returns Mar. 14 Allowances by vendor $750,000 40,000 50,000 15,000 ? Mar. 20 Payment made to vendor for purchases on March 5 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. A. $735,000 B. $703,250 C. $704,450 D. $685,000