Assume that Bramble Company uses a periodic inventory system and has these account balances: Purchases $457,800; Purchase Returns and Allowances $12,900; Purchase Discounts $9,500; and Freight-In $18,900. Bramble Company has beginning inventory of $69,800, ending inventory of $94,100, and net sales of $760,400. Determine the amounts to be reported for cost of goods sold and gross profit. Cost of goods sold $ Gross profit $