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Boxwood Company sells blankets for $37 each. The followind was taken from the inventory records during May. The company had no beginning inventory on
Boxwood Company sells blankets for $37 each. The followind was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost 6 $14 May 3 Purchase 10 Sale 17 Purchase 11 15 20 Sale 4 23 Sale 2 30 Purchase 11 23 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. Oa. $202 Ob. $484 Oc. $253 Od. $358
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