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The Boxwood Company sells blankets for $ 40.00 each. The following was taken from the inventory...

The Boxwood Company sells blankets for $ 40.00 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 03 Purchase 9 $18.00 May 10 Sale 3 May 17 Purchase 16 $15.00 May 20 Sale 5 May 23 Sale 2 May 30 Purchase 8 $22.00 Assuming that the company uses the perpetual inventory system, determine the ending inventory value for the month of May using the FIFO inventory cost method.

Select the correct answer. $345.00 $506.00 $414.00 $401.00 PreviousNext

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