Refer to the following mentioned data. (In millions) 2017 2016 2015 Net sales $34,736 $30,142 $26,512 Cost of products sold 14,970 13,615 13,307 Gross margin $19,766 $16,527 $13,205 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 Campbell's net sales for the first four months of 2018 totaled $12.15 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 million Gross profit million

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
icon
Related questions
Question
100%
Refer to the following mentioned data.
(In millions)
2015
$26,512
13,307
2017
2016
$34,736
14,970
Net sales
$30,142
Cost of products sold
13,615
Gross margin
$19,766
$16,527
$13, 205
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 Campbell's net sales for the first four months of 2018 totaled $12.15 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
million
Gross profit
million
Transcribed Image Text:Refer to the following mentioned data. (In millions) 2015 $26,512 13,307 2017 2016 $34,736 14,970 Net sales $30,142 Cost of products sold 13,615 Gross margin $19,766 $16,527 $13, 205 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 Campbell's net sales for the first four months of 2018 totaled $12.15 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 million Gross profit million
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 4 images

Blurred answer
Knowledge Booster
Ratio Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Essentials Of Investments
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
FUNDAMENTALS OF CORPORATE FINANCE
FUNDAMENTALS OF CORPORATE FINANCE
Finance
ISBN:
9781260013962
Author:
BREALEY
Publisher:
RENT MCG
Financial Management: Theory & Practice
Financial Management: Theory & Practice
Finance
ISBN:
9781337909730
Author:
Brigham
Publisher:
Cengage
Foundations Of Finance
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education