The Boxwood Company sells blankets for $35.00 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 8 $20.00 May 10 Sale 5 May 17 Purchase 16 $17.00 May 20 Sale May 23 Sale 3 May 30 Purchase 9 $20.00 Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the LIFO inventory cost method 4 Select the correct answer 5219.00 5193.00 $430,00 5612.00 If the estimated rate of gross profit is 30%, what is the estimated cost of the inventory on September 30, based on the following data? Sep. 01 Inventory $84,305.00 Sep. 01-30 Purchases (net) $189,023.00 Sep. 01-30 Sales (net) $135,248.00 Select the correct answer. 594.673.60 556,706,90 S178,654.40 540,574 40 The following lots of a particular commodity were available for sale during the year Beginning inventory 8 units at $52.00 First purchase 16 units at $54.00 Second purchase 22 units at $58.00 Third purchase 14 units at $64.00 The firm uses the periodic system, and there are 26 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the FIFO method? Select the correct answer 53,452.00 53.426.00 S1352.00 51.592.00 The following lots of Commodity P were available for sale during the year. Use this information to answer the question. Beginning inventory 5 units at $61 First purchase 15 units at $63 Second purchase 10 units at $74 Third purchase 10 units at $77 The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. What is the amount of cost of goods sold for the year according to the FIFO method? a. $1,510 b. $1,250 c. $1,380 d. $1,375