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Boxwood Company sells blankets for $39 each. The following was taken from the inventory records during May. The company had no beginning inventory on May

Boxwood Company sells blankets for $39 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1.

DateBlanketsUnitsCostMay3Purchase5$20

10Sale317Purchase1117

20Sale423Sale330Purchase1119

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.

a.$433

b.$311

c.$167

d.$209

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