Boxwood Company sells blankets for $34 each. The following information was taken from the inventory...

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Accounting

Boxwood Company sells blankets for $34 each. The following information was taken from the inventory records during May. The company had no beginning inventory on
May 1. Boxwood uses a perpetual inventory system.
Determine the cost of goods sold for the sale of May 20 using the LIFO inventory costing method.
a. $51
b. $85
c. $72
d. $198
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