i Data Table $ 7,000 Merchandise Inventory, June 1, 2017 Merchandise Inventory, May 31, 2018 Purchases Purchase Discounts Purchase Returns and Allowances $ 17,000 Freight In 21,000 Net Sales Revenue 80,000 Clay, Capital 6,000 8,000 165,000 55,000 Print Done Clay Electric uses the periodic inventory system. Clay reported the following selected amounts at May 31, 2018: Click on the icon to review the data.) a. Compute the cost of goods sold. Cost of Goods Sold: Less: Plus: Less: Cost of Goods Sold