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Dazzle Diamonds makes plastic power that sparkles. They purchase diamonds by the gram and have asked you to help them valuate their inventory using
Dazzle Diamonds makes plastic power that sparkles. They purchase diamonds by the gram and have asked you to help them valuate their inventory using three methods. Please use the data below: January Beginning Balance 3,580 $13.78 Purchase January 7th 7,265 $8.74 Purchase January 17th 9,549 $7.93 Purchase January 27th 8,134 $8.00 Purchase January 31st 4,507 $12.85 A physical inventory count revealed that there were 3,305 grams left in the warehouse. All the other diamonds were sold. (Two answers required, and round all answers to two decimal places) Calculate the inventory ending balance and cost of good sold using the LIFO method.
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