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.

The inventory data for an item for November are: Nov. 1 4 Sold 10 Inventory 15 units at $21 8 units Purchased 30 units at $20 Sold 22 units Purchased 23 units at $24 Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO? 17 30 a. $852 b. $615 c. $608 d. $755 The Boxwood Company sells blankets for $35 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 3 Purchase 9 $18 10 Sale 5 17 Purchase 9 $14 20 Sale 4 23 Sale 2 10 $21 30 Purchase 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. a. $56 b. $210 c. $90 d. $28