Question 7 2.5 pts Boxwood Company sells blankets for $60 each. The following was taken...
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Question 7 2.5 pts 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 BLANKETS UNITS COST May 3 Purchase $20 Sale Purchase $24 Sale Sale Purchase $30 Assuming that the company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of May 20 using the LIFO inventory cost method. a. $136 b. $144 c. $180 d. $120
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