The Boxwood Company sells blankets for $40 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Units Date Blankets Cost 8 $14 May 3 Purchase 10 Sale 3 17 Purchase 12 $16 20 Sale 5 23 Sale 3 30 30 Purchase B 520 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 B. $160 Ob. 342 c. $80 Od. $48