Requirement 1.$1.$ Compute net sales revenue.

Less:

Net Sales Revenue

Part 2$2$

Requirement 2.$2.$ Compute the cost of goods sold.

Less:

Plus:

Less:

Cost of Goods Sold

Part 3$3$

Requirement 3.$3.$ Compute gross profit.

Less:

Gross ProfitMerchandise Inventory, June 1,2024$1,2024$

$18,500$18,500$

Freight In

$2,000$2,000$

Merchandise Inventory, May 31,2025$31,2025$

30,000$30,000$

Sales Revenue

185,000$185,000$

Purchases

83,000$83,000$

Sales Discounts

15,000$15,000$

Purchase Discounts

5,500$5,500$

Sales Returns and Allowances

30,000$30,000$

Purchase Returns and Allowances

7,000$7,000$

Common Stock

24,000$24,000$

Retained Earnings

18,000$18,000$

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