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In its first month of operations, Crane Company made three purchases of merchandise in the following sequence: (1) 200 units at $6, (2) 300 units

In its first month of operations, Crane Company made three purchases of merchandise in the following sequence: (1) 200 units at $6, (2) 300 units at $8, and (3) 400 units at $9. Crane uses a periodic inventory system

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