Boxwood Company sells blankets for $34 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 Blankets Units Cost May 3 Purchase 8 $14 10 Sale 5 IL 17 Purchase 16 $15 20 Sale 8 23 Sale 2 30 Purchase 9 $21 Determine the cost of goods sold for the sale of May 20 using the FIFO inventory costing method. Oa. $162 Ob. $115 Oc. $190 Od. $117