Rees Distributors uses the periodic inventory system. Rees reported these amounts at May 31, 2017:
Inventory, May 31, 2016........................................... $29,000
Inventory, May 31, 2017............................................. 31,000
Purchases (of inventory)............................................ 82,000
Purchase Discounts...................................................... 2,000
Purchase Returns.......................................................... 3,000
Freight-in..................................................................... 4,000
Sales Revenue........................................................... 200,000
Sales Discounts ......................................................... 13,000
Sales Returns ............................................................. 15,000
Compute Rees Distributors':
a. Net sales revenue
b. Cost of goods sold
c. Gross margin