The Boxwood Company sells blankets for $ 34.00 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 9 $17.00 May 10 Sale 5 May 17 Purchase 10 $16.00 May 20 Sale 5 May 23 Sale 3 May 30 Purchase 12 $24.00 Assuming that the company uses the perpetual inventory system, determine the ending inventory value for the month of May using the FIFO inventory cost method.

Select the correct answer. $384.00 $306.00 $432.00 $288.00 PreviousNext