Assume that Larkspur, Inc. uses a periodic inventory system and has these account balances: Purchases $418,300, Purchase Returns and Allowances $12,100, Purchase Discounts $8,600, and Freight-In $19,800. Assume also that Larkspur, Inc. has beginning inventory of $66,300, ending inventory of $98,200, and net sales of $634,600. Determine the amounts to be reported for cost of goods sold and gross profit. Cost of goods sold $ Gross profit $ eTextbook and Media Last saved 1 second ago. Attempts: unlimited Saved work will be auto-submitted on the due date. Autosubmission can take up to 10 minutes