Baker Electric Co. uses the periodic inventory system. Baker reported these amounts at May 31, 2007:

Compute Baker's:

a. Net sales revenue 

b. Cost of goods sold

c. Gross profit.

Inventory, May 31, 2006 $19,000 Freight in Inventory, May 31, 2007 21,000 Sales revenue Purchases (of inventory) 82,000 Sales discounts Purchase discounts 2,000 Sales returns Purchase returns 8,000 $ 4,000 170,000 3,000 15,000