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The Boxwood Company sells blankets for $30 each. The following was taken from the inventory...

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Accounting

The Boxwood Company sells blankets for $30 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 3 Purchase 21 $12 10 Sale 8 17 Purchase 32 32 $14 20 Sale 15 23 Sale 4 30 Purchase 25 $15 Assuming that the company uses the perpetual inventory system, determine the gross profit for the sale of May 23 using the FIFO inventory cost method. Oa. $64 b. $156 Oc. $56 Od. $184

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