The Boxwood Company sells blankets for $36 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 $16 10 Sale 3 17 Purchase 13 $16 20 Sale 5 23 Sale 2 30 Purchase 10 $20 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. Oa. $48 Ob. $200 c. $32 Od. $80