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Compute the gross profit margin for the baxter company

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Reference no: EM131569655

Problem - The following information pertains to Baxter for 2014.

Beginning inventory - 55 units @ $15

Units purchased - 260 units @ $19

Ending inventory consisted of 27 units. Baxter sold 288 units at $31 each. All purchases and sales were made with cash.

Required - Compute the gross profit margin for the Baxter Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average.

Reference no: EM131569655

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