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Refer to the following mentioned data. Net revenues Cost of products sold Gross margin 2014 $34,433 14,081 $20,352 (In millions) 2013 $30,234 13,104 $17,130 2012
Refer to the following mentioned data. Net revenues Cost of products sold Gross margin 2014 $34,433 14,081 $20,352 (In millions) 2013 $30,234 13,104 $17,130 2012 $26,392 13,513 $12,879 Required: a. Calculate the gross profit ratio for each of the past three years. (Round your answers to 2 decimal places.) 2014 2013 2012 b. Assume that Campbell's net sales for the first four months of 2015 totaled $12.30 billion. Calculate an estimated cost of goods sold and gross profit for the four months, using the gross profit ratio for 2014. (Round intermediate calculations to 2 decimal places. Enter your answers in millions (i.e., 5,000,000 should be entered as 5).) Cost of goods sold Gross profit million million
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