Problem 6-5 (Part Level Submission) 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 Beginning inventory 146 diamonds at a cost of $317 per diamond. 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 $681 each. Assume that Blossom Company uses the specific identification cost flow method (1) How Blossom could maximize its gross profit for the month by specifically selecting which diamonds to sell on March S and March 25? To maximize gross profit, Blossom should sell the diamonds with the # cost. (2) How Blossom could minimize its gross profit for the month by selecting which diamonds to sell on March 5 and March 25? To minimize gross profit, Blossom should sell the diamonds with the cost