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 $1,000, two were purchased on july 9 for $1,050 each, and two were purchased on september 23 for $1,100 each. on december 24, it sold one of the diamonds that was purchased on july 9. using the fifo method, its cost of goods sold for the year ended is:

There are many benefits to using folders when working with lots of files.  Here are a few examples:

- You can use folders to sort your files by type, almost like drawers in a desk, so you might have folders for Music, Photographs, Documents, etc.

- You can use folders to group files together into a specific group.  For example in your Photographs folder you might have a folder titled BirthdayPhotographs for all the photographs from your birthday.

- As in the example above you can nest folders to create sub-categories.  Documents might include folders for Homework, Stories, Poems

- Folders can have different permissions applied to them, allowing you to keep personal files in a private folder only you can access, or secret files in a folder that doesn't show up in the normal list of folders!