uestion 16 Use the information below to answer the following questions Boxwood Company sells blankets for 560 each. The following was taken from the inventory records during May. The company had no beginning inventory on May I. Date Blankets Units Cost Muy 3 Purchase 5 520 10 Sale 3 17 Purchase 10 24 20 Sale 6 23 Sale 3 30 10 Purchase 30 Assume that the companyies the perpetual inventory system, determine the grous profit for the sale of May 23 using the FIFO inventory cost method a SION b.572 5120 SIND