1. 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.

   Date	Blankets	Units	Cost
   May 3	Purchase	5	$20
   10	Sale	3
   17	Purchase	10	$24
   20	Sale	6
   23	Sale	3
   30	Purchase	10	$30

   Assuming that the company uses the perpetual inventory system, determine the May 31 inventory balance using the LIFO inventory cost method.

   a.$372

   b.$324

   c.$364

   d.$320