Charter Company, which uses the perpetual inventory method, purchases different letters for resale. Character had a beginning inventory comprised of eight units at $5 per unit. The company purchased five units at $7 per unit in February, sold ten units in October, and purchased five units at $8 per unit in December. If Charter Company uses the LIFO method, what is the cost of goods sold for the year? Multiple Choice $60 $55 $85 $115