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Assume that Cullumber Company uses a periodic inventory system and has these account balances: Purchases $$384,800,$ Purchase

Returns and Allowances $$10,600,$ Purchase Discounts $$6,600,$ and Freight$-$In $$15,500.$ Cullumber Company has beginning inventory

of $$62,600,$ ending inventory of $$85,800,$ and net sales of $$648,300.$

Determine the amounts to be reported for cost of goods sold and gross profit.

Cost of goods sold $

Gross profit

$