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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 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
Required - What was the amount for net purchases?
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