What is the dollar amount of differences in net income, Accounting Basics

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What is the dollar amount of differences in net income

The following information pertains to BAxter Company for 2013:

Beginning inventory 90units @15
units purchased 320 units @19

Ending inventory of 40 units. Baxter sold 370 units at $30 each. All purchases ands sales were made with cash.
a. Compute the Gross margin fro Baxter Company using the following cost flow assumptions:
(1) FIFO (2) LIFO (3) weighted average
b. What is the dollar amount of differences in net income between using FIFO versus LIFO? Ignore income tax considerations
c. Determine the cash flow from operating activities, using each of the three cost flow assumptions listed in Requirement a. Ignore the effect of income taxes. Explain why these cash flows have no difference.

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Accounting Basics: What is the dollar amount of differences in net income

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Accounting Basics: What is the dollar amount of differences in net income

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Accounting Basics: What is the dollar amount of differences in net income

Reference No:- TGS0682094

Recent Questions Asked Accounting Basics

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