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	$19
10	Sale	4
17	Purchase	12	$16
20	Sale	4
23	Sale	2
30	Purchase	12	$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.