Boxwood Company sells blankets for $40 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 8 $29 10 Sale 5 17 Purchase 15 $31 20 Sale 4 23 Sale 2 30 Purchase 8 $33 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. a. $62 Ob. $264 Oc. $145 Od. $124