The Boxwood Company sells blankets for $34 each. The following was taken from the inventory...
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The Boxwood Company sells blankets for $34 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date May 3 10 17 20 23 30 Blankets Units Cost a. $440 b. $392 O $320 d. $360 Purchase 9 $16 Sale Purchase 15 $18 Sale 4 Sale 5 3 Purchase 8 $22 Assuming that the company uses the perpetual inventory system, determine the May 31 inventory balance using the FIFO inventory cost method.
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