Question: Assuming the periodic inventory method is used for the current year, the following data were taken from the accounting records: Sales 450,000 Sales return and

Assuming the periodic inventory method is used for the current year, the following data were taken from the accounting records:

Sales 450,000

Sales return and allowance 15,000.

Purchas 250,000

Purchase return and allowance 4,000

Discount receive 2,000

Freight in 1,000

Beginning inventory 45,000

Ending inventory 65,000

What was the amount for net purchases?

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