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[The following information applies to the questions displayed below. Charter Company, which uses the perpetual inventory method, purchases different letters for resale. Character had a
[The following information applies to the questions displayed below. Charter Company, which uses the perpetual inventory method, purchases different letters for resale. Character had a beginning inventory comprised of nine units at $5 per unit. The company purchased six units at $7 per unit in February, sold nine units in October, and purchased three units at $8 per unit in December Use the information above to answer the following question. If Charter Company uses the LIFO method, what is the cost of goods sold for the year? O $57 O $54 O $66 O $111
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