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Crane Company started operations on January 1,2020, and has used the FIFO method of inventory valuation since its inception. In 2026 , it decides to

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Crane Company started operations on January 1,2020, and has used the FIFO method of inventory valuation since its inception. In 2026 , it decides to switch to the average-cost method. You are provided with the following information. What is the net income reported by Crane in the 2025 income statement if it prepares comparative financial statements starting with 2023

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