You have the following information for Vaughn Diamonds. Vaughn Diamonds uses the periodic method of accounting for its inventory transactions. Vaughn 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 162 diamonds at a cost of 332 per diamond. March 3 Purchased 216 diamonds at a cost of 378 each. March 5 Sold 200 diamonds for 648 each. March 10 Purchased 378 diamonds at a cost of 416 each. March 25 Sold 432 diamonds for 702 each. (b) Assume that Vaughn Diamonds uses the FIFO cost flow assumption. Calculate cost of goods sold. How much gross profit would Vaughn Diamonds report under this cost flow assumption? Cost of goods sold 236784 Gross profit 475040 (c) Assume that Vaughn 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, e.g. 15.125 and final answers to O decimal places, e.g. 125.) Cost of goods sold 246064 Gross profit (W) 465760