The Boxwood Company sells blankets for $33.00 each. The following was taken from the inventory reco during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 03 May 10 May 17 May 20 May 23 May 30 Purchase 37 $20.00 Sale 15 Purchase 27 $22.00 Sale 19 Sale Purchase 30 $23.00 Assuming that the company uses the perpetual inventory system, determine the gross profit for the sale May 23 using the FIFO inventory cost method. Select the correct answer O$94 O$440 $176 $374