Alpha Electric uses the periodic inventory system. Alpha Electric reported the following selected amounts at May 31, 2025. All accounts have normal balances. 

Requirements 

1. Compute net sales revenue. 

2. Compute cost of goods sold. 

3. Compute gross profit.

Transcribed Image Text:

Merchandise Inventory, June 1, 2024 Merchandise Inventory, May 31, 2025 Purchases Purchase Discounts Purchase Returns and Allowances $ 16,500 Freight In 24,000 Sales Revenue 90,000 Sales Discounts 4,500 Sales Returns and Allowances 6,500 Common Stock Retained Earnings $ 7,000 172,000 7,000 14,000 32,000 17,000