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