Delta Diamonds Uses a Periodic Inventory System

question 25

Multiple Choice

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 specific identification method,its ending inventory (after the December 24 sale) equals:

• A)$2,250.
• B)$1,650.
• C)$2,200.
• D)$550.

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Definitions:

Marsh Wren

A small North American bird that inhabits marshes and reed beds, known for its distinctive loud song and nest-building behavior.

Monogamy

A mating system in which a male animal mates with a single female during a breeding season.

Parental Care

Behaviours exhibited by parents towards their offspring to ensure their growth, survival, and success.

Offspring Survival

The ability of offspring to live past infancy and reach maturity, influenced by genetic, environmental, and parental factors.