Williams Company, which uses the perpetual inventory method, purchases different letters for resale. The character had a beginning inventory comprised of seven units at $5 per unit. The company purchased six units at $7 per unit in February, sold eleven units in October, and purchased three units at $8 per unit in December.

If Charter Company uses the LIFO method, what is the cost of goods sold for the year?

• $67
• $34
• $86
• $101