1. The Boxwood Company sells blankets for $37 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	$14
   10	Sale	5
   17	Purchase	14	$14
   20	Sale	5
   23	Sale	2
   30	Purchase	12	$18

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

   a.$168

   b.$356

   c.$524

   d.$396