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Boxwood Company sells blankets for $38 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	10	$29
10	Sale	4
17	Purchase	9	30
20	Sale	5
23	Sale	2
30	Purchase	12	31

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.$372

b.$60

c.$150

d.$116