Boxwood Company sells blankets for $30 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 6 $20 10 Sale 3 17 Purchase 13 16 20 Sale 5 23 Sale 2 30 Purchase 13 24 Assuming that the company uses the perpetual inventory system, determine the gross profit for the sale of May 23 using the FIFO inventory cost method. Oa. $28 Ob. $60 Oc. $22 Od. $92