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Craft Company produces a single product. Last year, the company had a net operating income of $99,000 using absorption costing and $84,300 using variable costing. The fixed manufacturing overhead cost was $10 per unit. There were no beginning inventories. If 22,900 units were produced last year, then sales last year were:
8,200 units
21,430 units
24,370 units
37,600 units
Complete the entries to adjust the trial balance for the closing entries, prepare an statement of income and statement of financial position
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