Question Content Area Boxwood Company sells blankets for $39 each. The following information was taken from the inventory records during May. The company had no beginning inventory on May 1. Boxwood uses a perpetual inventory system. Date Blankets Units Cost May 3     Purchase 11 $14 10     Sale 4   17     Purchase 9 $16 20     Sale 8   23     Sale 3   30     Purchase 12 $24 Determine the cost of goods sold for the sale of May 20 using the FIFO inventory costing method. a. $126 b. $114 c. $184 d. $226

Q: Question Content Area Boxwood Company sells blankets for $40 each. The following information was…

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Q: Please do not give solution in image format thanku

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A:

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