Brief Exercise 5-10 Assume that Crane Company uses a periodic inventory system and has these account balances: Purchases $371,100; Purchase Returns and Allowances $10,100; Purchase Discounts $6,300; and Freight-in $16,900. Crane Company has beginning inventory of $61,800, ending inventory of $89,400, and net sales of $651,200. Determine the amounts to be reported for cost of goods sold and gross profit. Cost of goods sold Gross profit