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. Assuming that the company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of May 20 using the LIFO inventory cost method. a. $66 b. $105 c. $88 d. $264 Boxwood Company sells blankets for $60 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1 . Assuming that the company uses the perpetulal inventory system, determine the cost of merchandise sold for the sale of May 20 using the FIFO inventory cost method. a. $180 b. $120 c. $144 d. $136 Boxwood Company sells blankets for $35 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Assuming that the company uses the perpetual inventory system, determine the ending inventory value for the month of May using the FIFO inventory cost method. a. $220 b. $176 c. $304 d. $405 The inventory data for an item for November are: Using a perpetual system, what is the cost of merchandise sold for November if the company uses LIFo? a. $590 b. $600 c. $610 d. $580