Boxwood Company sells blankets for $38 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 10 $17 10 Sale 3 17 Purchase 9 $18 20 Sale 8 23 Sale 2 30 Purchase 10 $20 Determine the cost of goods sold for the sale of May 20 using the FIFO inventory costing method. a.$195 b.$263 c.$137 d.$143