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Johnson & Johnson reported the following revenue and cost of goods sold information in its 10-K report for 2006, 2007, and 2008.
$ millions 2008 2007 2006Sales to customers $63,747 $61,095 $63,324Cost of products sold 18,511 17,751 15,057
Compute Johnson & Johnson's gross profit margin for each year.
Prepare the closing entries at October 31 in the General Journal and Trial Balance for your closing entries
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