please help me with this gross profit soultion! part b! ...
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please help me with this gross profit soultion! part b!
an dem E The Gran Crisis, Expl O Battles the LOT Trading Intation Word 4. Doxyme-City NIA Streams Red rt 2 Question 2 of 3 2/4 E View Policies Show Attempt History Current Attempt in Progress You have the following information for Blossom Company, Blossom uses the periodic method of accounting for its inventory transactions, Blossom 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 March 5 Beginning inventory 140 diamonds at a cost of $ 300 per diamond. Purchased 190 diamonds at a cost of $ 340 each. Sold 170 diamonds for $ 600 each. Purchased 320 diamonds at a cost of $ 365 each Sold 380 diamonds for $ 650 each. March 10 March 25 acer 2/4 5 (b) Your answer is partially correct Assume that Blossom uses the FIFO cost flow assumption. Calculate cost of goods sold. How much gross pront would the company report under this cost flow assumption? Cost of goods sold 186900 151600 Gross profit eTextbook and Media List of Accounts Attempts: unlimited Somit An acer
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