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 $19 10 Sale 4 17 Purchase 11 $18 20 Sale 6 23 Sale 2 30 Purchase 9 $18 Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the LIFO inventory cost method. a. $360 b. $220 c. $531 d. $311