You have the following information for Novak Diamonds. Novak Diamonds uses the periodic method of accounting for its inventory transactions. Novak 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 March 3 Beginning inventory 192 diamonds at a cost of 392 per diamond. Purchased 256 diamonds at a cost of 448 each Sold 240 diamonds for 768 each. Purchased 448 diamonds at a cost of 496 each. March 5 March 10 March 25 Sold 512 diamonds for 832 each. (c) Assume that Novak Diamonds uses the average-cost cost flow assumption. Calculate cost of goods sold. How much gross profit would the company report under this cost flow assumption? (Round per unit cost to 3 decimal places, eg. 15.125 and final answers to O decimal places, eg. 125.) Cost of goods sold 343.319 Gross profit 266.985