The Boxwood Company sells blankets for $31.00 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 03	Purchase	7	$19.00
May 10	Sale	3
May 17	Purchase	11	$16.00
May 20	Sale	5
May 23	Sale	2
May 30	Purchase	12	$21.00

Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the LIFO inventory cost method.

Select the correct answer.

$392.00

$169.00

$561.00

$378.00