The Boxwood Company sells blankets for $40 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 7 $15 10     Sale 4   17     Purchase 15 $14 20     Sale 4   23     Sale 3   30     Purchase 11 $23 Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the LIFO inventory cost method. a.$60 b.$42 c.$253 d.$56

Boxwood Company sells blankets for $38 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 8 $28        10 Sale 4          17 Purchase 16 $30        20 Sale 4          23 Sale 2          30 Purchase 9 $31 Assuming that the company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of May 20 using the LIFO inventory cost method. a.$112 b.$120 c.$279 d.$60

The Boxwood Company sells blankets for $60 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 $20 10 Sale 3 17 Purchase 10 $24 20 Sale 6 23 Sale 3 30 Purchase 10 $30 Assuming that the company uses the perpetual inventory system, determine the May 31 inventory balance using the LIFO inventory cost method. Oa. $364 Оb. s372 Oc. $320 Od. $324

The Boxwood Company sells blankets for $40 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 25 $10 10     Sale 10   17     Purchase 28 $12 20     Sale 18   23     Sale 3   30     Purchase 28 $13 Assuming that the company uses the perpetual inventory system, determine the gross profit for the sale of May 23 using the FIFO inventory cost method. a.$84 b.$150 c.$36 d.$186

The Boxwood Company sells blankets for $ 38.00 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 Purchase 7 $15.00 May 10 Sale 3   May 17 Purchase 13 $17.00 May 20 Sale 6   May 23 Sale 2   May 30 Purchase 12 $19.00 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. $147.00 $94.00 $162.00 $98.00

Boxwood Company sells blankets for $35 each. The following information was taken from the inventory records during May. The company had no beginning inventory on May 1. Boxwood use a perpetual inventory system.                                                                            May 3 Purchase 7units  $1810 Sale 4 units17 Purchase 11units $1520 Sale 423 sale 2units30 Purchase 9 units $19.                                                                                                                                                                                                              Determine the May 31 inventory balance using the FIFO inventory costing method

Carla Vista Lighting had a beginning inventory of 29 units at a cost of $7 per unit on August 1. During the month, the following purchases and sales were made. August 5 34 units at $8 August 11 44 units at $9 August 23 39 units at $10 Purchases 1. 2. Ending inventory Cost of goods sold $ Sales Carla Vista uses a periodic inventory system. Determine ending inventory and cost of goods sold under: 1. FIFO and 2. LIFO. $ August 2 August 10 August 19 August 21 24 units FIFO 29 units 59 units 29 units $ LIFO

The Boxwood Company sells blankets for $36 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 11 $16 10     Sale 5   17     Purchase 11 $17 20     Sale 8   23     Sale 3   30     Purchase 9 $18 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. a.$232 b.$216 c.$134 d.$130

The Boxwood Company sells blankets for $33 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 10 $18 10     Sale 4   17     Purchase 12 $16 20     Sale 4   23     Sale 2   30     Purchase 12 $22 Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the LIFO inventory cost method. a.$64 b.$32 c.$72 d.$264

The 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 9 $19 10     Sale 5   17     Purchase 14 $16 20     Sale 6   23     Sale 2   30     Purchase 10 $21 Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the LIFO inventory cost method. a.$605 b.$223 c.$382 d.$483