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 Date Blankets Units Cost May 3 Purchase 8 $15 10 Sale 5 17 Purchase 16 $16 20 Sale 7 23 Sale 2 30 Purchase 11 $23 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 a $109 b. SIO c. $157 d. 5157 The Boxwood Company sells blankets for $32 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 4 17 Purchase 10 $14 20 Sale 5 23 Sale 2 30 Purchase 10 $21 Assuming that the company uses the perpetual inventory system, determine the May 31 Inventory balance using the FIFO Inventory cost method a. 5336 b. 5304 c. $294 d. 5224 The Boxwood Company sells blankets for $33 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 35 $10 10 Sale 14 17 Purchase 38 $12 20 Sale 25 23 Sale 4 30 Purchase 37 $13 Assuming that the company uses the perpetual Inventory system, determine the gross profit for the sale of May 23 using the FIFO inventory cost method. . $84 b. 5210 c. 54 d. $258 The Boxwood Company sells blankets for $31 each. The following was taken from the inventory records during May. The company had no beginning inventory o Date Blankets Units Cost May 3 Purchase 8 $15 10 Sale 5 17 Purchase 16 $14 20 Sale 6 23 Sale 3 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. 5432 b. 5201 c. $359 d. 5560