Boxwood Company sells blankets for $38 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Units Date May 3 10 17 20 23 30 Blankets C. $150 d. $116 Purchase Sale Purchase Sale Sale Purchase 10 4 9 5 2 12 Cost $29 30 31 Assuming that the company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of May 20 using the LIFO inventory cost method.

Aasuming that the company uses the perpetual inventory system, determine the cost of merchandse sold for the sale of Mar 20 using the cifo inventory ceit method si2 (3) sise . 3116