On December 1, 2025, Crane Company had the account balances shown below. Cash Accounts Receivable Inventory Equipment Dec. 3 5 1 2 7 3. Inventory (2,700 × $0.60) The following transactions occurred during December. 17 22 - Adjustment data: Debit $5,250 Accumulated Depreciation-Equipment Accounts Payable Common Stock Retained Earnings 3,860 1,620 20,400 $31,130 4 Credit $1.370 Purchased 3,700 units of inventory on account at a cost of $0.77 per unit. Sold 4,100 units of inventory on account for $0.90 per unit. (Crane sold 2,700 of the $0.60 units and 1,400 of the $0.77 units.) Accrued salaries and wages payable $420. Depreciation on equipment $180 per month. Income tax expense was $190, to be paid next year. 2,760 10,000 17,000 $31,130 Granted the December 5 customer $90 credit for 100 units of inventory returned costing $77. These units were returned to inventory. Purchased 2,100 units of inventory for cash at $0.70 each. Sold 1,800 units of inventory on account for $0.88 per unit. (Crane sold 1,800 of the $0.77 units.)

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