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Boxwood Company sets blankets for $3 each. The following was taken from the inventory records...

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Accounting

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Boxwood Company sets blankets for $3 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1: Date Blankets Units Cost May 6 520 Purchase Sale 10 4 17 Purchase 16 17 20 4 Sale Sale 3 30 Purchase 16 19 Assuming that the company uses the perpetuat inventory system determine the gross profit for the sale of May 23 using the FIFO inventory cost method, OS Od 1 Date Units Cost 10 Sale 24 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 Blankets May Purchase 5 $20 3 Purchase 10 20 Sale 6 23 Sale 3 30 Purchase 10 30 Assuming that the company uses the perpetual inventory system, determine the gross profit for the month of May using the Loro cost method. O 54 Od SSZ Oc5354 Od sa If the estimated rate of gross profit is 30%, what is the estimated cost of the merchandise inventory on September 30, based on the following data? Sep. 1 Merchandise Inventory (at cost) $86,959 Sep. 1-30 Purchases, net (at cost) 167,554 Sep. 1.30 Sales 125,684 Os 512.05 Ob 7,99 Oc $50.200 Od 5166,554

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