Question 11 of 12 > - / 1 III You have the following information for Whispering Winds Gems. Whispering Winds uses the periodic method of accounting for its inventory transactions. Whispering Winds 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 132 diamonds at a cost of $272 per diamond. 3 Purchased 176 diamonds at a cost of $308 each. 5 Sold 160 diamonds for $528 each. 10 Purchased 292 diamonds at a cost of $332 each. 25 Sold 344 diamonds for $572 each. (a) Assume that Whispering Winds Gems uses the specific identification cost flow method. (1) How could Whispering Winds maximize its gross profit for the month by specifically selecting which diamonds to sell on March 5 and March 25? COST To maximize gross profit. Whispering Winds should sell the diamonds with the How could Whispering Winds minimize its gross profit for the month by select and March 25? lowest highest onds to sell on March 5 121 To minimize gross profit, Whispering Winds should sell the diamonds with the cost e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Anne W P .. MacBook Pro 0 G Search or type URL