A company uses perpetual inventory in connection with the specific-identification method. The company purchased 30 industrial diamonds for $500 per unit. Later in the month, they purchased another 20 diamonds from another supplier for $480 per unit. On the last day of the month, they sold 18 diamonds to a customer at a price of $800 per unit. Of the 18 diamonds, 3 came from the first batch and the remainder came from the second batch. Which of the following journal entries correctly records the Sales revenues?

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The Answer of A company uses perpetual inventory in connection with the specific-identification method. The company purchased 30 industrial diamonds for $500 per unit. Later in the month, they purchased another 20 diamonds from another supplier for $480 per unit. On the last day of the month, they sold 18 diamonds to a customer at a price of $800 per unit. Of the 18 diamonds, 3 came from the first batch and the remainder came from the second batch. Which of the following journal entries correctly records the Sales revenues?

A Company Uses Perpetual Inventory in Connection with the Specific-Identification