The Boxwood Company sells blankets for $33.00 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 37 $11.00 May 10 Sale 15 May 17 Purchase 22 $13.00 May 20 Sale 19 May 23 May 30 Sale Purchase 7 38 $14.00 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. $146 5242 $91 $203