Boxwood Company sells blankets for $36 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	23	$13
10	Sale	9
17	Purchase	36	$15
20	Sale	16
23	Sale	5
30	Purchase	33	$16

Determine the gross profit for the sale of May 23 using the FIFO inventory costing method.

a. $105

b. $182

c. $75

d. $212

AsAp