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Refer to the consolidated statements of earnings on shown

Refer to the consolidated statements of earnings on shown below of the Campbell Soup Company annual report in the appendix.

1167_262-B-A-I-S (1108).png 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 2012 totaled $2.7 billion. Calculate an estimated cost of goods sold and gross profit for the four months.

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Accounting Basics: Refer to the consolidated statements of earnings on shown

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