Boxwood Company sells blankets for $32 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. Cost Date 000 May 3 10 17 20 23 30 Blankets $70 b. $42 c. $240 d. $76 Purchase Sale Purchase Sale Sale Units 10 4 10 5 3 Purchase $20 Determine the cost of goods sold for the sale of May 20 using the LIFO inventory costing method. $19 12 $14

Boxwood Company selis blankets for $32 each. The following information was taken from the inventory records during May, The company had no beginning invencory on May 1. Boxwood uses a perpetual inventory system. Determine the cost of goods sold for the sale of May 20 using the uro inventery costing method. 170 1. 347 1. $2w A. 376