Refer to the following mentioned data.

(In millions)

2011

2010

2009

Net revenues

$

34,598

$

30,674

$

26,156

Cost of products sold

14,385

13,328

13,244

Gross margin

$

20,213

$

17,346

$

12,912

a.

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

b. Assume that Campbells net sales for the first four months of 2012 totaled $12.88 billion. Calculate an estimated cost of goods sold and gross profit for the four months, using the gross profit ratio for 2011.(Enter your answer in millions (i.e., 5,000,000 should be entered as 5). Round your intermediate calculations to two decimal places and your final answers to the nearest dollar amount.)