Question: Use the information below to answer the following question. The Boxwood Company sells blankets for $60 each. The following was taken from the inventory records

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 May3 10 17 20 23 30 Blankets Units Cost $20

Use the information below to answer the following question. The 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 May3 10 17 20 23 30 Blankets Units Cost $20 Purchase Sale Purchase Sale - 10 $24 le rchase 10 $30 Assuming that the company uses the perpetual inventory system, determine the ending inventory value for the month of May using the FIFO inventory cost method. a. $372 Ob. $324 Oc. $320 Od. $364

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