Minor Company had checks outstanding totaling $5,192 on its April bank reconciliation. In May, Minor Company issued checks totaling $39,361. The May bank statement shows that $26,254 in checks cleared the bank in May. A check from one of Minor Company's customers of $757 was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be Oa. $17,542 Ob. $65,615 Oc. $18,299 Od. $21,062 A company using the periodic inventory system has the following account balances: Inventory at the beginning of the year, $4,046; Freight-In, $446; Purchases, $15,960; Purchases Returns and Allowances, $2,022; Purchases Discounts, $479. The cost of merchandise purchased is equal to Oa $14,861 Ob. $13,905 Oc. $15,960 Od $22,953 The Boxwood Company sells blankets for $36 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 3 Purchase 9 $19 10 Sale 5 17 Purchase 14 $17 20 Sale 6 23 Sale 2 30 Purchase 8 $19 Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the LIFO inventory cost method. Oa. $34 O. $152 Oc. $95 Od $102