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 Blankets Units Cost May 3 Purchase 9 $17 10 Sale 17 Purchase 15 $16 20 Sale 4 23 Sale 3 30 Purchase $18 Assuming that the company uses the perpetual inventory system, determine the May 31 inventory balance using the FIFO inventory cost method. Oa. a. $357 Ob. $378 Oc. $354 Od. $336