You have the following information for Coronado Diamonds. Coronado Diamonds uses the periodic method of accounting for its inventory transactions. Coronado 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 $153$ diamonds at a cost of $314$ per diamond. March $3$ Purchased $204$ diamonds at a cost of $6357$ each. March $5$ Sold $188$ diamonds for $6612$ each. March $10$ Purchased $357$ diamonds at a cost of $392$ each. March $25$ Sold $408$ diamonds for $663$ each, $($a$)$ Assume that Coronado Diamonds uses the specific identification cost flow method. $(1)$ Demonstrate how Coronado Diamonds could maximize its gross profit for the month by specifically selecting which diamonds To maximize gross profit, Coronado Diamonds should sell the diamonds with the Demonstrate how Coronado Diamonds could minimize its gross profit for the month by selecting which diamonds to sell on M : $(2)$ To minimize gross profit, Coronado Diamonds should sell the diamonds with the. $/$r$/$n $($b$)$ Assume that Coronado Diamonds uses the FIFO cost flow assumption. Calculate cost of goods sold. How much gross profit would Coronado Diamonds report under this cost flow assumption? Cost of goods sold $$ Gross profit E $($c$)$ Assume that Coronado Diamonds uses the average$-$cost cost flow assumption. Calculate cost of goods sold. How much gross profit would the company report under this cost flow assumption? $($Round per unit cost to $3$ decimal places, eg$.15\mathrm{.}125$ and final answers to $0$ decimal places, es$.125.)$ Cost of goods sold $$ Gross profit $$