The Boxwood Company sells blankets for $ 36.00 each. The following was taken from the...
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Accounting
The Boxwood Company sells blankets for $ 36.00 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1.
| Date | Product Z | Units | Cost |
| May 01 | Balance | 8 | $14.00 |
| May 10 | Sale | 5 | |
| May 17 | Balance | 11 | $18.00 |
| May 20 | Sale | 8 | |
| May 23 | Sale | 2 | |
| May 30 | Balance | 12 | $20.00 |
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.
Select the correct answer.
$132.00
$214.00
$186.00
$124.00
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