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The Boxwood Company sells blankets for $34 each. The following was taken from the inventory records during May. The company had no beginning inventory on
The Boxwood Company sells blankets for $34 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date May 3 10 17 20 23 30 Blankets Purchase Sale Purchase Sale Sale Purchase Units 9 3 9 7 2 11 Cost $15 $18 $19 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. O a. $216 Ob. $108 O c. $171 O d. $123
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