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Question Content Area Boxwood Company sells blankets for $36 each. The following was taken from the inventory records during May. The company had no beginning

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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 7 $28
10 Sale 3
17 Purchase 11 30
20 Sale 5
23 Sale 2
30 Purchase 9 32

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.

a. $84

b. $60

c. $150

d. $288

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