Alphabet Company buys different letters for resale. It buys A thru G on January 1 at $4 per letter, and sells A and E on January 15. On February 1, it buys H thru L at $6 per letter and sells D, H and J on February 9. It then buys M thru R on March 1 at $7 per letter and sells N on March 19. If the company uses the LIFO method on a perpetual basis, what is the cost of its ending inventory (rounded to the nearest dollar)?

Alphabet Company buys different letters for resale. It buys A thru G on January 1 at $4 per letter, and sells A and E on January 15. On February 1, it buys H thru L at $6 per letter and sells D, H and J on February 9. It then buys M thru R on March 1 at $7 per letter and sells N on March 19. If the company uses the LIFO method on a perpetual basis, what is the cost of its ending inventory (rounded to the nearest dollar)? O $67 $58 O $76 O $72