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 5 $30 May 10 Sale 3 May 17 Purchase 10 $34 May 20 Sale 6 May 23 Sale 3 May 30 Purchase 10 $40 a. c. - 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 b. $204 $240 d. $124 - Assuming that the company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of May 20 using the average inventory cost method. $250 b. $160 $200 d. $204 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 $400 d. $790 a. C. a. c. 3 a. c. a. 5. 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 $102 d. $180 6. 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 $520 d. $494 17. 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 $500 d. $450 c. a. c