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Assuming that the company uses the perpetual inventory

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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.

Reference no: EM13573157

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