The Boxwood Company sells blankets for $31 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 21 $18 10 Sale 8 17 Purchase 23 $20 20 Sale 15 23 Sale 3 30 Purchase 28 $21 Assuming that the company uses the perpetual inventory system, determine the gross profit for the sale of May 23 using the FIFO inventory cost method. Oa. $33 Ob. $234 Oc. $60 Od. $274