21, and

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022.

Calculate the gross profit rate for 2020, 2021, and 2022: 

(in millions)
2020
2021
2022
Beginning inventory
$2,000
$2,400
$2,600
Ending inventory
2,400
2,600
2,700
Cost of goods sold
17,600
19,500
19,080
Sales revenue
39,200
42,300
42,210
Transcribed Image Text:(in millions) 2020 2021 2022 Beginning inventory $2,000 $2,400 $2,600 Ending inventory 2,400 2,600 2,700 Cost of goods sold 17,600 19,500 19,080 Sales revenue 39,200 42,300 42,210
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