Use the information below to answer the following question 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 Cost Date May 3 Blankets 10 20 30 24 Assuming that the company uses the perpetuel inventory system, determine the gross profit for the month of May using the LIFO cost method a. $348 b. $452 $356 d.$444