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6. MC.07.74.ALGO (Algorithmic) Boxwood Company sells blankets for $31 each. The following was taken from the inventory records during May. The company had no beginning

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6. MC.07.74.ALGO (Algorithmic) Boxwood Company sells blankets for $31 each. The following was taken from the inventory records during May. The company had no beginning Inventory on May 1. Date Blankets Units Cost May 3 Purchase 5 $16 10 Sale 3 17 Purchase 15 18 20 Sale 4 23 Sale 3 30 Purchase 15 20 Assuming that the company uses the perpetual inventory system, determine the ending Inventory for the month of May using the LIFO inventory cost method. a $620 b. $332 C. $238 d. $476

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