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Crane Company sells one product. Presented below is information for January for Crane Company. Jan. 1 Inventory 101 units at $4 each 4 Sale 80

Crane Company sells one product. Presented below is information for January for Crane Company.

Jan. 1 Inventory 101 units at $4 each
4 Sale 80 units at $8 each
11 Purchase 144 units at $6 each
13 Sale 111 units at $9 each
20 Purchase 156 units at $7 each
27 Sale 100 units at $11 each

Crane uses the FIFO cost flow assumption. All purchases and sales are on account.

Assume Crane uses a perpetual system. Prepare all necessary journal entries. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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