Use the following information to answer the following questions. 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 Assuming that the company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of May 20 using the LIFO inventory cost method $196 $204 $240 $124 Assuming that the company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of May 20 using the FIFO inventory cost method. $250 $180 $196 $204 Assuming that the company uses the perpetual inventory system, determine the ending inventory value for the month of May using the FIFO inventory cost method. $494 $502 $422 $520 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. $78 $90 $102 $180 Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month o may using the LIFO inventory cost method $422 $502 $520 $194