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ourses/28638/quizzes/260611/take The Boxwood Company sells blankets for $60 each....

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ourses/28638/quizzes/260611/take The 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. Date May 3 Purchase May 10 Sale May 17Purchase May 20 Sale May 23 Sale Product Z Units Cost $20 3 10 6 3 $24 May 30 Purchase 10 $30 Assuming that the company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of May 20 using the FIFO inventory cost method. $144 $120 $136 C. $180

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