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 May 3 10 17 20 23 Blankets 30 Purchase Sale Purchase Sale Sale Units Purchase 8 5 16 6 2 Cost 10 $20 Determine the May 31 inventory balance using the LIFO inventory costing method. O a $236 O b. $632 O c. $480 O d. $396 $20 $17 ?

Bowwogd Company selis bianixts for $34 esch. The following information was taken from the imventory records dunng May, The company had no beginning inventory on May 1. Bocircod uses a perpetuat inventory system. Deterrine the May 31 imventory balance using the LIFo inventory costing method. sma 4x2+2 4556