he Boxwood Company sells blankets for $37 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 $15 10 Sale 4 17 Purchase 15 $17 20 Sale 5 23 Sale 3 30 Purchase 11 $24 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.

The correct answer is $85

Explanation:

According to the given scenario, the calculation of the cost of the goods sold using the LIFO method is as follows:

= Sale units as on May 20 × price per unit

= 5 units × $17

= $85

Basically we multiplied the sales units with the price per unit so that the cost of goods sold could come

Hence, the cost of the goods sold using the LIFO method is $85

the answer is either c or b, i cant be to sure tho.

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o