Current Attempt in Progress Your answer is incorrect. Assume that Wildhorse Co. uses a periodic inventory system and has these account balances: Purchases $364,100; Purchase Returns and Allowances $11,700; Purchase Discounts $7.500; and Freight-in $17.400. Wildhorse Co. has beginning inventory of $58,600, ending inventory of $89.300, and net sales of $646,600. Determine the amounts to be reported for cost of goods sold and gross profit. Cost of goods sold Gross profit eTextbook and Media Save for Later Attempts: unlimited Submit Answer