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 $19 10 Sale 5 17 Purchase 15 $15 20 Sale 5 23 Sale 3 30 Purchase 11 $18 Assuming that the company uses the perpetual inventory system, determine the May 31 inventory balance using the FIFO inventory cost method. a. $300 Ob. $360 Oc. $350 d. $333