C 29. MC.06.69.ALGO Boxwood Company sells blankets for $37 each. The following information was taken from the inventory records during May. The company had no beginning inventory on May 1. Boxwood uses a perpetual inventory system. Date May 3 10 17 20 23 30 Blankets a. $100 b. $103 $161 d. $175 Purchase Sale Purchase Sale Sale Purchase Units 9 4 13 3729 Cost $14 $15 $19 Determine the cost of goods sold for the sale of May 20 using the FIFO inventory costing method.

29. MC.06.69.ALGO Boxwood Company sells blankets for $37 each. The following information was taken from the inventory records during May. The company had no beginning inventory on May 1. Boxwood uses a perpetual inventory system. Determine the cost of goods sold for the sale of May 20 using the FIFO inventory costing method. a. $100 b. $103 $161 d. $175