Cutter Electric uses the periodic inventory system. Cutter reported the following selected amounts at May 31 2018 (Click on the icon to review the data.) a. Compuit int cus VI yu SUIU. Cost of Goods Sold: Less: Plus: Less: Cost of Goods Sold c. Determine the company's gross profit. The gross profit for the year ended May 31, 2018 is Compute the following for Cutter: a. Cost of goods sold. b. Gross profit. Data table Merchandise Inventory, June 1, 2017 $ 18,500 Freight In $ 7,000 Merchandise Inventory, May 31, 2018 Purchases 24,000 Net Sales Revenue 175,000 83,000 Cutter, Capital 36,000 Purchase Discounts 4,500 Purchase Returns and Allowances 6,000 Print Done