Help System Announcements CALCULATOR PRINTER VERSION 4 Brief Exercise 5-12 Assume that Spacey Company uses a periodic inventory system and has these account bala Purchases $404,000; Purchase Returns and Allowances $13,000; Purchase Discounts $9,00 Freight-in $16,000. Spacey Company has beginning inventory of $60,000, ending inventory $90,000, and net sales of $612,000. Determine the amounts to be reported for cost of goods sold and gross profit. Cost of goods solds Gross profit Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT A Search