Boxwood Company sells blankets for $31 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 5  $14         10 Sale 4         17 Purchase 12    15         20 Sale 5         23 Sale 3         30 Purchase 12    19  Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the lifo  inventory cost method

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Boxwood Company sells blankets for $31 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 5  $14         10 Sale 4         17 Purchase 12    15         20 Sale 5         23 Sale 3         30 Purchase 12    19  Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the lifo  inventory cost method 

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