Use the information below to answer the following questions. The Boxwood Company sells blankets for S60 each. The May. The company had no beginning inventory on May 1 following was taken from the inventory records during Date Blankets Units Cost May 3 Purchase Sale Purchase Sale Sale $20 10 17 10 $24 20 23 30 Purchase 10 S30 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