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Crane Company had 580 units of Tank in its inventory at a cost of $6 each. It purchased 910 more units of Tank at a
Crane Company had 580 units of Tank in its inventory at a cost of $6 each. It purchased 910 more units of Tank at a cost of $9 each. Crane then sold 1120 units at a selling price of $15 each. The LIFO liquidation overstated normal gross profit by
$ -0-.
$630.
$990.
$1620.
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