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Financial Accounting

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Inventory Cost: Net Purchases Amount

FINACT-ZVAF67

Red Brick Company uses the Periodic Inventory System. The company provides the following account balances at year-end:

Account Balance
Purchases \$894,000
Purchase Returns \$24,500
Purchase Discounts \$10,400
Sales Returns \$15,900
Sales Discounts \$8,200
Freight-In \$12,300
Freight-out \$9,600


What is the amount of Net Purchases reported on the Income Statement at year-end?