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	$20
10	Sale	5
17	Purchase	14	$15
20	Sale	4
23	Sale	2
30	Purchase	11	$22

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.$242

b.$30

c.$100

d.$60

The Boxwood Company sells blankets for $39 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	7	$14
10	Sale	4
17	Purchase	12	$17
20	Sale	5
23	Sale	2
30	Purchase	9	$23

Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the FIFO inventory cost method.

a.$79

b.$141

c.$76

d.$127