Current Attempt in Progress * Your answer is incorrect. Assume that Cullumber Company uses a periodic inventory system and has these account balances: Purchases $399,900; Purchase Returns and Allowances $12,100; Purchase Discounts $6,700; and Freight-in $17,800. Cullumber Company has beginning inventory of $63,000, ending inventory of $92,800, and net sales of $654,800. Determine the amounts to be reported for cost of goods sold and gross profit. Cost of goods sold Gross profit eTextbook and Media 369,900 284,900