View Policies -/3 E Current Attempt in Progress On January 1, 2024, Blossom Retailers had inventory of $48,700. On December 31, 2024, total inventory on hand was $64,700. Blossom reported the following account balances on December 31: Freight in Purchases $2,700 507,700 Purchase returns and allowances 700 Purchase discounts Sales 4,700 838,700 Sales discounts 3,700 Sales returns and allowances 8,700 (a)