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March 1 Beginning imventary 146 diamonds at a cast of $317 psr diamand. ...

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Accounting

March 1 Beginning imventary 146 diamonds at a cast of $317 psr diamand.
March 3 Purchased 189 diamonds at a cost of $340 each.
March 5 Sold 179 diamonds for $614 each.
March 10 Purchased 324 diamonds at a cost of $399 each.
March 25 Sold 408 diamonds for $691 each.
(a)
Your answar is partially correct.
Assume that Blossom Company uses the specific identification cast flow mathod.
(1) Demonstrate haw Blossom Campany could maximize its gross profit for themonth by specifically salecting which diamonds to sell on March 5 and March 25.
To meximize arcas profit, Blossom Company should sell the diamonds with the lowkst cost.
(2) Demenstrate how Blessam Campany could minimize its pross profit for the manth by selecting which diamends to sell on March 5 and March 25.
To minimize gross profit, Blossem Compary should sell the diamends with the wishest V cost.
Cost of roods sold to maximize pross profit
Cost of roods sold to minimize aroas profit
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