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	Product Z	Units	Cost
May 03	Purchase	25	$16.00
May 10	Sale	10
May 17	Purchase	39	$18.00
May 20	Sale	13
May 23	Sale	10
May 30	Purchase	40	$19.00

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.

Select the correct answer.

$184

$240

$180

$204