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 7 $16 10 Sale 5 17 Purchase 16 $14 20 Sale 6 23 Sale 3 30 Purchase 12 $22 $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. $84 Ob. $80 c. $42 d. $264