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Opening inventory $100,000
Closing inventory150,000
Purchases400,000
Transportation-in6,000
Purchase discounts40,000
Purchase allowances15,000
Returned purchases5,000
The entity had net purchases for the period of A. $340,000
B. $346,000
C. $370,000
D. $376,000
Answer option B >>>>>>>>>>>>>>>>>>> $346,000
Net Purchase for the period is $346,000
Calculation:400,000+6,000-40,000-15,000-5,000 =346,000
