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 $15 28 10 Sale 11 17 Purchase 26 $17 20 Sale 20 23 Sale 2 30 Purchase 21 $18 Assuming that the company uses the perpetual Inventory system, determine the gross profit for the sale of May 23 using the FIFO Inventory cost method Oa. $38 O, $255 Oc. $34 Od 5306