Zeta Electric uses the periodic inventory system. Zeta reported the following selected amounts at May 31, 2016:
Merchandise Inventory, June 1, 2015.....$ 16,500
Merchandise Inventory, May 31, 2016 .... 24,000
Purchases.............. 90,000
Purchase Discounts........... 4,500
Purchase Returns and Allowances..... 6,500
Freight In............... $ 7,000
Sales Revenue.............. 172,000
Sales Discounts........... 7,000
Sales Returns and Allowances ....... 14,000
Common Stock........... 32,000
Retained Earnings........... 17,000
Compute the following for Zeta:
a. Net sales revenue.
b. Cost of goods sold.
c. Gross profit.