The Boxwood Company sells blankets for $30 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 8 $18 10 Sale 3 17 Purchase 14 $14 20 Sale 6 23 Sale 2 30 Purchase 12 $21 Assuming that the company uses the perpetual inventory system, determine the May 31 Inventory batarice using the FIFO Inventory cost method 8 5400 b. 5322 c. 5414 Ed. 540