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. Date Units Cost $20 5 May 3 10 3 17 Blankets Purchase Sale Purchase Sale Sale Purchase 10 24 20 6 23 3 30 10 30 Assuming that the company uses the perpetual inventory system, determine the gross profit for the month of May using the LIFO cost method. a. $348 Ob. $452 c. $356 d. $444