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	7	$17
10	Sale	4
17	Purchase	16	$16
20	Sale	6
23	Sale	2
30	Purchase	11	$19

Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the LIFO inventory cost method.

a.$68

b.$209

c.$96

d.$32

Based upon the following data, estimate the cost of ending inventory using the gross profit method.

Sales	$889,000
Estimated gross profit rate	43%
Beginning inventory	$63,900
Purchases (net)	670,900
Merchandise available for sale	$734,800

$