BE5.2 Calculate cost of sales and gross profit.

Assume that Jess Ltd uses a periodic inventory system and has the following account balances: Beginning inventory $45 000, Ending inventory $67 500, Sales $472 500, Purchases $300 000, Purchase returns $14 250, and Freight-in $12 000. Determine the amounts to be reported for cost of net purchases, cost of sales and gross profit.