Precision Musical Instruments, merchandisers of musical instruments, has provided the following details: Mar. 5 Inventory purchased on account $700,000 Mar. 8 Freight in 35,000 Mar. 13 Purchase returns 50,000 Mar. 14 Allowances by vendor 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. O A. $649,900 OB. $635,000 OC. $685,000 OD. $650,950