Delta Diamonds had 5 diamonds available for sale this year: 1 purchased June 1 for $500; 2 purchased July 9 for $550 each; and 2 purchased September 23 for $600 each. On December 24, it sold 1 of the diamonds. Using LIFO periodic, its Cost of Goods Sold is ______.Multiple choice question.$1,100$1,200$500$600$550

A large share of the world's supply of diamonds comes from Russia and South Africa. Suppose that the marginal cost of mining diamonds is $1000 per diamond, and the demand for diamonds is described by the following schedule: Price($): 8000, 7000, 6000, 5000, 4000, 3000, 2000 Quantity: 5000, 6000, 7000, 8000, 9000, 10000, 11000 a) If there were many suppliers of diamonds, what would be the price and quantity? b) If there was only one supplier of diamonds, what would be the price and quantity? c) If Russia and South Africa formed a cartel, what would be the price and quantity? If the countries split the market evenly, what would be South Africa's production and profit? What would happen to South Africa's profit if it increased its production by 1000 while Russia stuck to the cartel agreement? d) Use your answer to part (c) to explain why cartel agreements are often not successful.

Question 5Please use this information for Question 5 - 9:School’s back in session and Stan at ‘The Bizzy Bee’ has sold 85 of his Fidget Bands this week alone, and at the end of September, he had sold 142 total. He purchased 500 of them in August at $1,200 including shipping, and he is selling them for $12.99 each.   What is the purchase cost (or inventory value cost) for those 500 units before any sales? (Format your answer as $x,xxx)

Delta Company sells bells to customers for $1 each. The variable cost to manufacture the bells is 10 cents. If the rattle department, a division of the Delta Company, wants to use the bells in its new line of rattles, which of the following transfer prices can be used if there is excess capacity?

On May 1, there were 4 inventory items that cost $30 each. On May 5, 2 items were purchased for $35 each. Given one item from the beginning inventory and one from the May 5 inventory were sold, under the inventory method, cost of goods sold would equal $65.

ABC Co. uses a perpetual inventory system and uses the FIFO cost flow assumption. During the month, it had two sales. Calculate the dollar value of its cost of goods sold for the first sale made on Jan. 10.  DateActivity Jan 1Beginning Inventory 8 @ $12 = $96Jan 5Purchase12 @ $15= $180Jan 25Purchase10 @ $18= $180Jan 10Sale11 @ $50 eachJan 30Sale3 @ $55 eachMultiple choice question.$195$141$550$180