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Question 2 2.5 p Jackson Company reported the following information relating to its inventory for 2020: sales revenue ......... freight-in ............. purchase returns ................ cost

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Question 2 2.5 p Jackson Company reported the following information relating to its inventory for 2020: sales revenue ......... freight-in ............. purchase returns ................ cost of goods available for sale ......... purchases ......... gross profit ...................... freight-out .............. purchase discounts ......... ..... $427,000 10,980 16,590 419, 250 392,800 96,250 11,730 ? Jackson Company reported an inventory turnover ratio of 4.20 for 2020. Calculate the amount of purchase discounts reported by Jackson Company during 2020

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