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 Date Blankets Units Cost May 03 Purchase $19.00 May 10 Sale May 17 Purchase $21.00 May 20 Sale May 23 Sale May 30 Purchase $22.00 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 Select the correct answer $106 5380 $210 $317 A sales invoice included the following information: merchandise price, $12,900; terms 1/10, /eom; FOB shipping point with prepaid freight of 5333 added to the invoice. Assuming that a credit for merchandise returned of $2,600 is granted prior to payment and that the invoice is paid within the discount period, what is the amount of cash that should be received by the seller? $2,600 $10,530 $12.900 513.101 Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO? Nov. 01 Inventory 18 units at $25.00 Nov. 04 Sold 10 units Nov. 10 Purchased 26 units at $23.00 Nov. 17 Sold 25 units Nov. 30 Purchased 25 units at $20.00 Using the perpetual LIFO system, what is the cost of the merchandise sold for November? Select the correct answer $841.00 $707.00 $1,025.00