i need help with part B

Current Attempt in Progress You have the following information for Kingbird, Inc. Kingbird, Ing uses the periodic method of accounting for its inventory transactions, Kingbird, Inc. 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 144 diamonds at a cost of $326 per diamond. March 3 Purchased 211 diamonds at a cost of $329 each, March 5 Sold 190 diamonds for $596 cach. March 10 Purchased 320 diamonds at a cost of $390 each, March 25 Sold 385 diamonds for $700 each, Your answer is correct (1) Assume that Kingbird, Ing. Ases the specific identification cost flow method, Demonstrate how Kingbird, Inc. could maximize its gross profit for the month by specifically selecting which diamonds to sell on March 5 and March 25 To maximize gross profit Kingbird, Inc should sell the diamonds with the 12 Demonstratew Kinghird, Inc. could minimize its gross profit for the month by selecting which diamonds to sell on March 5 and March 25 To minimize gross profit. Kinibiret, te should sell the diamonds with the lowest cost hichest cost Cost of woods sold to maximize rosso $ 20216 Cost of ouds sold to minimo $ 20 (b) Assume that Kingbird, Inc uses the FIFO cost flow assumption Calculate cost of goods sold. How much gross profit would Kingbird, Inc. report under this cost flow assumption? $ Cost of goods sold Gross profit $ e Textbook and Media List of Accounts Save for Attempts: 0 of Sused Subenit Am