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Find what is the cost of goods sold for the year

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Reference no: EM132513367

Williams Company, which uses the perpetual inventory method, purchases different letters for resale. 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.

Question 1: If Charter Company uses the LIFO method, what is the cost of goods sold for the year?

Option 1: $67

Option 2: $34

Option 3: $86

Option 4: $101

Reference no: EM132513367

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