Charter Company, which uses the perpetual inventory method, purchases different letters for resale. Charter had...
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Accounting
Charter Company, which uses the perpetual inventory method, purchases different letters for resale. Charter had a beginning inventory comprised of eight units at $3 per unit. The company purchased four units at $5 per unit in February, sold nine units in October, and purchased three units at $6 per unit in December. If Charter Company uses the LIFO method, what is the cost of its ending inventory?
Multiple Choice
$35
$27
$62
$41
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