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Boxwood Company sells blankets for $37 each. The following was taken from the inventory records during May. The company had no beginning inventory on May
Boxwood Company sells blankets for $37 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 03 Purchase 6 $15 10 Sale 3 17 Purchase 11 $17 20 Sale 4 23 Sale 2 30 Purchase 11 $18 Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the LIFO inventory cost method. Oa. $413 Ob. $328 Oc. $164 Od. $243
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