Crane Company sells one product Presented below is information for January for Crane Company Jan. 1 4 11 13 20 27 Inventory Sale Purchase Sale Purchase Sale 101 units at $4 cach 80 units at $8 each 144 units at $6 each 111 units at $9 each 156 units at $7 each 100 units at $11 each Crane uses the FIFO cost flow assumption. All purchases and sales are on account. (a) Assume Crane uses a periodic system. Prepare all necessary Journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for January is 110 units. (if no entry is required, select "No entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit