Boxwood Company sells blankets for $30 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. Date May 3 10 17 20 23 30 O Ob. $135 a. $204 O O d. $129 Blankets c. $219 Purchase Sale Purchase Sale Sale Purchase Units 9 4 900 N 10 8 2 9 $24 Determine the cost of goods sold for the sale of May 20 using the FIFO inventory costing method. Cost $15 $18

Boxwood Company sells blankets for $30 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 cost of goods sold for the sale of May 20 using the FIFO inventory costing method. a. $204 b. $135 c. $219 d. $129