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Which is the correct answer?Please explain the answer. The Boxwood Company sells blankets for $31 each. The following was taken from the inventory records during
Which is the correct answer?Please explain the answer.
The Boxwood Company sells blankets for $31 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Blankets Units Cost May 3 Purchase $17 Date 7 10 Sale 4 17 Purchase 12 $14 20 Sale 4 23 Sale 3 30 Purchase 10 $24 Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the LIFO inventory cost method. Oa. $361 Ob. $527 Oc. $456 Od. $166Step by Step Solution
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