Business, 13.07.2021 17:50 sierram298

Delta Diamonds uses a periodic inventory system. The company had five one-carat diamonds available for sale this year: one was purchased on June 1 for $500, two were purchased on July 9 for $550 each, and two were purchased on September 23 for $600 each. On December 24, it sold one of the diamonds that was purchased on July 9. Using the FIFO method, its ending inventory (after the December 24 sale) equals: A. $2,200.
B. $2,300.
C. $2,800.
D. $2,250.

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