Question

Refer to the following mentioned data. (In millions) 2017 2016 2015 Net sales $ 34,092 $...

Refer to the following mentioned data.

(In millions)
2017 2016 2015
Net sales $ 34,092 $ 30,418 $ 26,944
Cost of products sold 14,318 13,517 13,549
Gross margin $ 19,774 $ 16,901 $ 13,395

a. Calculate the gross profit ratio for each of the past three years. (Round your answers to 2 decimal places.)

b. Assume that Campbell’s net sales for the first four months of 2018 totaled $12.95 billion. Calculate an estimated cost of goods sold and gross profit for the four months, using the gross profit ratio for 2017. (Round intermediate calculations to 2 decimal places. Enter your answers in millions rounded to nearest whole number (i.e., 5,000,000 should be entered as 5).)

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Answer #1

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