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. Blankets Units Cost Date May 3 Purchase 25 120 10 Sale 10 17 Purchase 32 $22 20 23 22 Sale Sale 3 30 Purchase 20 $23 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. Ca. 127 Ob. $300 c. M Od. Se