ANSWER ASAP

Boxwood Company sells blankets for $38 each. The following information was taken from the inventory records during May. The company had no beginning inventory on May 1. Boxwood uses a perpetual inventory system. Blankets Date May 3 10 17 20 23 Purchase 30 Sale Purchase Sale Sale Units Purchase 7 4 15 5 2 $18 Determine the May 31 inventory balance using the LIFO inventory costing method. a. $187 b. $396 c. $367 d. $554 Cost $17 10 $17

Boxwood Company sells blankets for $38 each. The following information was taken from the inventory records during May. The company had no beginning inventory on May 1. Boxwood uses a perpetual inventory system. Determine the May 31 inventory balance using the LIFO inventory costing method. a. $187 b. $396 c. $367 d. $554