Question: 7. (LO 3.3, 3.4) Lets analyze the sales transactions by SKU. Create a pivot table in Excel showing the average sales price, cost, gross margin,

7. (LO 3.3, 3.4) Let’s analyze the sales transactions by SKU. Create a pivot table in Excel showing the average sales price, cost, gross margin, and gross margin percentage for each SKU. For ease of use, format all numbers with two decimals. Use the pivot table to answer the following questions:

a. How many SKUs are there?

b. Which SKU has the highest average selling price? (Hint: Sort the appropriate column.)

c. Which SKU has the lowest average cost?

d. Which SKU has the highest average gross margin?

e. Which SKU has the highest average gross margin percentage?

f. What is the Grand Total, or overall, average gross margin percentage?

g. How can management use the information in the pivot table?

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