Merchandise Inventory, June 1, 2017 Merchandise Inventory, May 31, 2018 Purchases Purchase Discounts Purchase Returns and Allowances $ 15,500 Freight In 26,000 Net Sales Revenue 87,000 Clay, Capital 2,000 5,000 $ 5,000 170,000 51,000 Print Done a. Compute the cost of goods sold. Cost of Goods Sold: Less: Plus: c. Determine the company's gross profit The gross profit for the year ended May 31, 2018 * $