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.

Date	Blankets	Units	Cost
May 3	Purchase	7	$18
10	Sale	3
17	Purchase	11	$15
20	Sale	5
23	Sale	3
30	Purchase	9	$21

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.$306

b.$480

c.$378

d.$174

The units of Manganese Plus available for sale during the year were as follows:

Mar. 1	Inventory	22 units	@ $32	$704
June 16	Purchase	30 units	@ $33	990
Nov. 28	Purchase	46 units	@ $36	1,656
		98 units		$3,350

There are 13 units of the product in the physical inventory at November 30. The periodic inventory system is used.

a. Determine the inventory cost by the FIFO method. $

b. Determine the inventory cost by the LIFO method. $

c. Determine the inventory cost by the average cost methods. Round answer to two decimal places. $