Boxwood Company sells blankets for $33 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost 10 $22 May 3 Purchase 10 Sale 4 17 Purchase 16 24 20 Sale 4 23 Sale 2 30 Purchase 12 26 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. O a. $88 Ob. $96 Oc. $312 Od. $48