$ 4.500 Merchandise Inventory, June 1. 2015 Merchandise Inventory, May 31, 2016 Purchases Purchase Discounts Purchase Returns and Allowances $ 18,000 Freight In 24,500 Sales Revenue 85,000 Sales Discounts 5,500 Sales Returns and Allowances 9.500 Delta Capital 166 000 6,500 18,000 45 000 Part 1 of 3 Points: 0 of 1 Delta Electric uses the periodic inventory system Delta reported the following selected amounts at May 31, 2016 ME (Click on the icon to review the data) Compute the following for Deta Net sales revenue b. Cost of goods sold G Gross prot a. First, compute the net sales revenue Less Net Sales Revenue