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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 03	Purchase	9	$20.00
May 10	Sale	4
May 17	Purchase	13	$18.00
May 20	Sale	5
May 23	Sale	3
May 30	Purchase	12	$24.00

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.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9950734

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