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The Boxwood Company sells blankets for $39 each. The following was taken from the inventory records during May. The company had no beginning inventory on
The Boxwood Company sells blankets for $39 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Blankets Units. Cost Date May 31 Purchase 8 $17 10 Sale 3 17 Purchase 16 $14 20 Sale 6 23 Sale 2 30 Purchase 9 $18 Assuming that the company uses the perpetual inventory system, determine the May 31 Inventory balance using the FIFO inventory cost method. Ca. $344 Ob. $3081 Cc. $374 Od. $396
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