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Please answer as soon as possible! The Boxwood Company sells blankets for $37 each. The following was taken from the inventory records during May. The

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Please answer as soon as possible!

The Boxwood Company sells blankets for $37 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 $20 10 Sale 5 17 Purchase 10 $17 20 Sale 5 23 Sale 3 30 Purchase 10 $19 Assuming that the company uses the perpetual inventory system, determine the May 31 inventory balance using the FIFO inventory cost method. a. $320 b. $272 c. $304 d. $292

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