The Boxwood Company sells blankets for $38 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 3 17 Purchase 13 $15 20 Sale 6 23 Sale 3 30 Purchase 11 $18 Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the FIFO inventory cost method. Oa. $160 Ob. $132 Oc. $85 Od. 589