Assume that Pronghorn Company uses a periodic inventory system and has these account balances: Purchases $451,600, Purchase Returns and Allowances $14,600, Purchase Discounts $9,500, and Freight-In $18,500. Assume also that Pronghorn Company has beginning inventory of $69,200, ending inventory of $98,500, and net sales of $747,600. Determine the amounts to be reported for cost of goods sold and gross profit.