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The Company sells blankets for $36.00 each. The following was taken from the inventory records during May. The company had no on May Blankets Units

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The Company sells blankets for $36.00 each. The following was taken from the inventory records during May. The company had no on May Blankets Units May 10 Sale May 17 Purchase May 20 Sale May 23 Sale May 30 Purchase $21.00 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. Select the correct answer. O$164 $200 $194

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