Boxwood Company sells blankets for $36 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1.

Date	Blankets	Units	Cost
May 3	Purchase	6	$14
10	Sale	4
17	Purchase	13	17
20	Sale	5
23	Sale	2
30	Purchase	13	24

Assuming that the company uses the perpetual inventory system, determine the ending inventory value for the month of May using the FIFO inventory cost method.

a. $250

b. $448

c. $611

d. $312