The Boxwood Company sells blankets for $ 36.00 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	9	$15.00
May 10	Sale	3
May 17	Purchase	13	$17.00
May 20	Sale	6
May 23	Sale	3
May 30	Purchase	10	$19.00

Assuming that the company uses the perpetual inventory system, determine the ending inventory value for the month of May using the FIFO inventory cost method.

Select the correct answer.

$340.00

$380.00

$360.00

$300.00

The Boxwood Company sells blankets for $ 36.00 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 9 $15.00 May 10 Sale 3 May 17 Purchase 13 $17.00 May 20 Sale 6 May 23 Sale 3 May 30 Purchase $19.00 Assuming that the company uses the perpetual inventory system, determine the ending inventory value for the month of May using the FIFO inventory cost method. 10 Select the correct answer. $340,00 $380.00 $360.00 $300.00