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Boxwood Company sells blankets for $35 each. The folliowing was taken from the inventory records during May. The company had no beginning inventory on May
Boxwood Company sells blankets for $35 each. The folliowing was taken from the inventory records during May. The company had no beginning inventory on May 1 Date Blankets Units Cost May 03 Purchase 10 $26 10 17 20 Sale 23 30 Purchase 16 $27 $28 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. .$108 b. $81 . $252 d. $130
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