Charter Company, which uses the perpetual inventory method, purchases different letters for resale. Character had a beginning inventory comprised of ten units at $3 per unit. The company purchased four units at $5 per unit in February, sold seven units in October, and purchased four units at $6 per unit in December.If Charter Company uses the LIFO method, what is the cost of goods sold for the year?
A. $74
B. $45
C. $35
D. $29
Answer: D
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