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 Units Blankets May 3 Purchase Cost 8 $29 10 Sale 4 17 Purchase 14 31 20 Sale 5 23 Sale 2 30 Purchase 10 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. Oa. $116 Ob. $62 Oc. $155 Od. $330