You have the following information for Novak Corp. Novak Corp. uses the periodic method of accounting for its inventory transactions. Novak Corp. only carries one brand and size of diamonds-all are identical. Each batch of diamonds purchased is carefully coded and marked with its purchase cost. March 1 Beginning inventory 138 diamonds at a cost of $294 per diamond. March 3 Purchased 191 diamonds at a cost of $347 each. March 5 Sold 185 diamonds for $581 each. March 10 Purchased 358 diamonds at a cost of $353 each. March 25 Sold 375 diamonds for $675 each. company repart under this cost flow assumption? Cost of goods sold 5 Cross profit 5 At May 31, Skysong, Inc. has net sales of $320,000 and cost of goods available for sale of $276,500. Compute the estimated cost of the ending inventory, assuming the gross profit rate is 37%. Estimated cost of ending inventory