Please help

You have the following information for Pearls Gems. Pearls uses the periodic method of accounting for its inventory transactions. Pearls only carries one brand and size of pearls all are identical. Each batch of pearls purchased is carefully coded and marked with its purchase cost. June 1 Beginning Inventory 300 pearls at the cost of $620 per pearl 3 Purchased 400 pearls at the cost of $700 each 5 Sold 360 pearls for $1,200 each. 10 Purchased 660 pearls at the cost of $750 each 25 Sold 780 pearls for $1,300 each. Instructions: a) Assume that Pearls Gems uses the specific identification cost flow method. 1. Demonstrate how Pearls could maximize its gross profit for the month by specifically selecting which pearls to sell on June 5* and 25th. ii. Demonstrate how Pearls could minimize its gross profit for the month by selecting which pearls to sell June 5th and 25th_ b) Assume that Pearls uses the FIFO cost flow assumptions. Calculate cost of Goods Sold. How much Gross profit would Pearls report under this cost flow assumption? c) Assume that Pearls uses the LIFO cost flow assumptions. Calculate cost of Goods Sold. How much Gross profit would Pearls report under this cost flow assumption? d) Which cost flow method should Pearls Gems select? Explain