The Boxwood Company sells blankets for $ 32.00 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 $14.00 May 10 Sale 5 May 17 Purchase 16 $15.00 May 20 Sale 5 May 23 Sale 2 May 30 Purchase 12 $20.00 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. Select the correct answer. O$30.00 O$75.00 O$240.00 O $70.00 The Boxwood Company sells blankets for $ 30.00 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Product 2 Units Cost May 01 Purchase 11 $14.00 May 10 Sale 5 May 17 Purchase 13 $15.00 May 20 Sale 7 May 23 Sale 2 May 30 Purchase 9 $22.00 Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the FIFO inventory cost method. Select the correct answer O$189.00 $99.00 O$175.00 O$104.00 1 Sale The Boxwood Company sells blankets for $ 35.00 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 $15.00 May 10 Sale 4 May 17 Purchase $14.00 May 20 5 May 23 Sale May 30 Purchase 12 $23.00 Assuming that the company uses the perpetual inventory system, determine the ending inventory value for the month of May using the FIFO inventory cost method. Select the correct answer. O$285.00 Os266.00 O$437.00 O$374.00