Net sales Cost of products sold Gross margin 2020 $ 8,691 5,692 $ 2,999 (In millions) 2019 $ 8,107 5,414 $ 2,693 Required: a. Calculate the gross profit ratio for each of the past three years. b. Assume that Campbell's net sales for the first four months of 2021 totaled $3.2 billion. Calculate an estimated cost of goods sold and gross profit for the four months, using the gross profit ratio for 2020, 2020 2019 2018 2018. $ 6,615 4,241 $ 2,374 Complete this question by entering your answers in the tabs below. % Required A Required B Calculate the gross profit ratio for each of the past three years. Note: Round your answers to 1 decimal place.
Net sales Cost of products sold Gross margin 2020 $ 8,691 5,692 $ 2,999 (In millions) 2019 $ 8,107 5,414 $ 2,693 Required: a. Calculate the gross profit ratio for each of the past three years. b. Assume that Campbell's net sales for the first four months of 2021 totaled $3.2 billion. Calculate an estimated cost of goods sold and gross profit for the four months, using the gross profit ratio for 2020, 2020 2019 2018 2018. $ 6,615 4,241 $ 2,374 Complete this question by entering your answers in the tabs below. % Required A Required B Calculate the gross profit ratio for each of the past three years. Note: Round your answers to 1 decimal place.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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Transcribed Image Text:Net sales
Cost of products sold
Gross margin
2020
$8,691
5,692
$ 2,999
(In millions)
2019
$ 8,107
5,414
$ 2,693
Required:
a. Calculate the gross profit ratio for each of the past three years.
b. Assume that Campbell's net sales for the first four months of 2021 totaled $3.2 billion. Calculate an estimated cost of goods sold
and gross profit for the four months, using the gross profit ratio for 2020,
2020
2019
2018
2018.
$ 6,615
4,241
$ 2,374
Complete this question by entering your answers in the tabs below.
%
Required A Required B
Calculate the gross profit ratio for each of the past three years.
Note: Round your answers to 1 decimal place.
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