The Boxwood Company sells blankets for $60 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Cost $20 Date Blankets May 3 Purchase 10 Sale 17 Purchase 20 Sale 23 Sale 30 Purchase Units 5 3 10 $24 6 3 10 $30 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. O $72 O $108 O $180 O $120