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The Boxwood Company sells blankets for $40 each. The following was taken from the Inventory...

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The Boxwood Company sells blankets for $40 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 30 $11 10 Sale 12 17 Purchase 22 $13 20 Sale 21 23 Sale 1 30 Purchase 36 $14 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. a. 127 Ob. $190 Oc. $13 Od. $237

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