Refer to the following mentioned data (In millions) 2014 2013 2012 Net revenues $ 8,268 $ 8,052 $ 7,175 Cost of products sold 5,370 5,140 4,365 Gross margin $ 2,898 $ 2,912 $ 2,810 Required a Calculate the gross profit ratio for each of the past three years (Round your answers to 1 decimal place ) ...

Refer to the following mentioned data. (In millions) 2014 2013 2012 Net revenues $ 8,268 $ 8,052

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Question:

Refer to the following mentioned data.

	(In millions)
	2014		2013		2012
Net revenues	$	8,268	$	8,052	$	7,175
Cost of products sold		5,370		5,140		4,365
Gross margin	$	2,898	$	2,912	$	2,810

Required:

a. Calculate the gross profit ratio for each of the past three years. (Round your answers to 1 decimal place.)

2014=%?

2013=%?

2012=%?

b. Assume that Campbell’s net sales for the first four months of 2015 totaled $2.7 billion. Calculate an estimated cost of goods sold and gross profit for the four months, using the gross profit ratio for 2014. (Do not round intermediate calculations. Enter your answers in millions rounded to nearest whole number (i.e., 5,000,000 should be entered as 5).