The following lots of a particular commodity were available for sale during the year Beginning Inventory 9 units at $49 First purchase 15 units at $53 Second purchase 24 units at $25 Third purchase 15 units at $58 The firm uses the periodic system, and there are 24 units of the commodity on hand at the end of the year. What is the ending Inventory balance at the end of the year rounded to nearest dollar according to the average cost method? Do not round intermediate calculations Os 51,236 Ob. 51,176 Oc. $1,031 d. 51.00 Previous Next > The Boxwood Company sells blankets for $37 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 8 $17 10 Sale 17 Purchase 11 $16 20 Sale 5 23 Sale 2 30 Purchase B $24 Assuming that the company uses the perpetual inventory system, determine the May 3 niventory balance using the FIFO inventory cost method. Os 3272 O. 20 Oc. 534 Od. 1256