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. Date Product Z Units Cost May 3 Purchase $30 May 10 Sale 3 Purchase 10 $34 May 20 Sale 6 May 23 Sale 3 May 30 Purchase 10 $40 May 17 - a. 14. Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the FIFO inventory cost method. $264 b. $502 c. $400 d. $790 3 a. 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 b. $90 c. $102 d. $180 Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May the LIFO inventory cost method. $362 b. $548 0002 $520 d. $494 Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the average inventory cost method. $502 b. $452 ago $500 d. $450 a. c. a. c