Question 5 -/1 View Policles Current Attempt in Progress You have the following information for Jewels Gems. Jewels uses the periodic method of accounting for its inventory transactions. Jewels 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. Beginning inventory 150 diamonds at a cost of $310 per diamond. Purchased 200 diamonds at a cost of $350 each. March 1 March 3 Sold 180 diamonds for $600 each. March 5 March 10 Purchased 330 diamonds at a cost of $375 each. Sold 390 diamonds for $650 each March 25 (d) Which cost flow method (LIFO, FIFO or Specific Identification) should Jewels Gems select? Explain. T T. 99 oWord(s)