Boxwood Company sells blankets for $60 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Assuming that the company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of May 10 using the FIFO inventory cost method. Units Date May 3 Cost $20 10 Blankets Purchase Sale Purchase Sale Sale Purchase O $90 $72 $60 $100