Compute the cost of goods sold.

Cost of Goods Sold:
		Less:
		Plus:
		Less:
Cost of Goods Sold

Merchandise Inventory, June 1, 2017

$19,000

Freight In

$7,000

Merchandise Inventory, May 31, 2018

25,500

Net Sales Revenue

168,000

Purchases

90,000

Common Stock

33,000

Purchase Discounts

3,500

Retained Earnings

19,000

Purchase Returns and Allowances

6,000