Brief Exercise 5-13 Your answer is incorrect. Try again. Assume that Novak Corp. uses a periodic inventory system and has these account balances: Purchases $476,300; Purchase Returns and Allowances $14,800; Purchase Discounts $8,000; and Freight-In $15,800. Novak Corp. has beginning inventory of $62,700, ending inventory of $91,200, and net sales of $748,800 Determine the amounts to be reported for cost of goods sold and gross profit