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. O Date May 3 O 10 17 20 23 30 a. $441 b. $450 c. $375 Od. $525 Blankets Units Cost Purchase 9 Sale Sale 3 Purchase 15 Sale 5 2 $18 Assuming that the company uses the perpetual inventory system, determine the May 31 inventory balance using the FIFO inventory cost method. $15 Purchase 11 $21 K

Assuming that the compary uses the perpetual inventcry system, determine the May 31 invertory balance usung the fifo inventory cost method a 5441 b. $150 c. 535 4. 5525