You have the following information for Wildhorse Co.. Wildhorse Co. uses the periodic method of accounting for its inventory transactions. Wildhorse Co. only carries one brand and size of diamondsall are identical. Each batch of diamonds purchased is carefully coded and marked with its purchase cost. ------------------------------------------------------------------------------------------------------------------------------------------

March 1		Beginning inventory 144 diamonds at a cost of $283 per diamond.
March 3		Purchased 196 diamonds at a cost of $377 each.
March 5		Sold 189 diamonds for $646 each.
March 10		Purchased 310 diamonds at a cost of $391 each.
March 25		Sold 400 diamonds for $707 each.

Assume that Wildhorse Co. uses the LIFO cost flow assumption. Calculate cost of goods sold. How much gross profit would the company report under this cost flow assumption?

Cost of Goods sold:

Gross Profit :