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 8 $18 10 Sale 5 17 Purchase 16 $14 20 Sale 23 Sale 3 30 Purchase 12 $19 Assuming that the company uses the perpetual inventory system, determine the May 31 inventory balance using the FIFO inventory cost method. Oa. 5432 Ob. 53% Oc. $456 Od. $336