Crane Company had 450 units of Dink in its inventory at a cost of $4...
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Accounting
Crane Company had 450 units of Dink in its inventory at a cost of $4 each. It purchased, for $2350, 280 more units of Dink. Crane then sold 580 units at a selling price of $9 each, resulting in a gross profit of $1670. The cost flow assumption used by Crane
FIFO
LIFO
Cannot be determined
weighted average
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