Refer to the following mentioned data. Net sales Cost of products sold Gross margin 2017 2016 2015 Required: a. Calculate the gross profit ratio for each of the past three years. (Round your answers to 2 decimal places.) (In millions) 2016 2017 2015 $34,894 $30,411 $26,113 14,318 13,376 13,767 $20,576 $17,035 $12,346 Cost of goods sold Gross profit 58.94 % % % b. Assume that Campbell's net sales for the first four months of 2018 totaled $12.79 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 (1.e., 5,000,000 should be entered as 5).) million million

Refer to the following mentioned data. Net sales Cost of products sold Gross margin 2017 2016 2015 Required: a. Calculate the gross profit ratio for each of the past three years. (Round your answers to 2 decimal places.) (In millions) 2016 2017 2015 $34,894 $30,411 $26,113 14,318 13,376 13,767 $20,576 $17,035 $12,346 Cost of goods sold Gross profit 58.94 % % % b. Assume that Campbell's net sales for the first four months of 2018 totaled $12.79 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 (1.e., 5,000,000 should be entered as 5).) million million

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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