Total purchases cost	$	255000
Total sales		578000
Purchases shipping costs		352
Merchandise inventory, opening balance		55333
Purchase discounts		3499
Sales discounts		203
Merchandise inventory, closing GL balance		89000
Merchandise inventory, physical inventory count		86544
Sales allowances		601
Operating expenses		251000
Sales returns		202
Purchase returns and allowances		198
Net purchases		?
Inventory shrinkage adjustment amount		?
Cost of goods sold		?
Net sales		?
Gross profit		?
Net income/(loss)		?
Gross profit ratio		?

Required: Calculate Net purchases using the information above. (Hint: Refer to the merchandising company illustration in Section 5.1 and the T-account summary illustrations for inventory and cost of goods sold at the end of Section 5.4.)