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	8	$18.00
May 10	Sale	4
May 17	Purchase	13	$16.00
May 20	Sale	6
May 23	Sale	3
May 30	Purchase	8	$19.00

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.