Refer to the following mentioned data.

	(In millions)
	2017			2016			2015
Net sales	$	34,110		$	30,196		$	26,986
Cost of products sold		14,428			13,938			13,437
Gross margin	$	19,682		$	16,258		$	13,549

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

2017 %

2016 %

2015 % b. Assume that Campbells net sales for the first four months of 2018 totaled $12.83 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).)

cost of goods sold

gross profit