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 8 $20 10 Sale 17 Purchase 15 $17 20 Sale 5 23 Sale 2 30 Purchase 12 $18 Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the LIFO inventory cost method. Oa. $216 b. $85 Oc. $34 Od. $100 The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 25 units @ $31 $775 June 16 Purchase 33 units @ $33 1,089 Nov. 28 Purchase 41 units @ $36 1,476 99 units $3,340 There are 12 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost by the FIFO method. $ 2,433 b. Determine the inventory cost by the LIFO method. 1,204 c. Determine the inventory cost by the average cost methods. Round answer to two decimal places. 404.85 Under the direct write-off method of accounting for uncollectible accounts, Bad Debts Expense is debited a. at the end of each accounting period b. whenever a predetermined amount of credit sales have been made c. when an account is determined to be worthless O d. when a credit sale is past due