Calculator The Boxwood Company sells blankets for $39 each. The following was taken from the...
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Calculator The Boxwood Company sells blankets for $39 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 7 $16 10 Sale 4 17 Purchase 15 $17 20 Sale 7 23 Sale 2 30 Purchase 10 $19 Assuming that the company uses the perpetual Inventory system, determine the cost of goods sold for the sale of May 20 using the FIFO inventory cost method. Os. $115 Ob. $167 O $116 O. 5183
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