Sand Company's inventory balances for May are given below: Inventory May 1 $23,000 May 31 ? Sand Company reported the following account balances for May: bad debt expense purchase returns cost of goods sold freight-out purchases freight-in $ 11,000 ? $ 68,000 $ 7,000 $121,000 $ 9,000 sales returns & allowances purchase discounts $ 14,000 $ 6,000 Sand Company's inventory turnover ratio for May was 1.7. Calculate the amount of purchase returns reported by Sand Company during May. Question 6