The Following Information Comes from P Co 1 Compute the Gross Profit Percentage for
A

question 135

Essay

The following information comes from P Co.'s statements of earnings for 20X7 and 20X6: $$\begin{array} { | l | r | r | } \hline \text { (In millions) } & \underline { \mathbf { 2 0 X 7 } } & \underline { \mathbf { 2 0 X 6 } } \\\hline \text { Net sales } & \$ 22,348 & \$ 20,917 \\\hline \text { Cost of sales } & \$ 9,330 & \$ 8,525 \\\hline\end{array}$$ 1. Compute the gross profit percentage for
a. 20X7 __________
b. 20X6 __________
2. Provide at least two potential reasons for the change in P Co's gross profit percentage.

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Definitions:

Available Option

Choices or alternatives that are accessible and can be chosen in a decision-making process.

Price

Price refers to the amount of money expected, required, or given in payment for something.

Hamburger

A popular food item consisting of a cooked patty of ground meat, typically beef, placed inside a sliced bread roll or bun.

Hot Dog

A cooked sausage, traditionally grilled or steamed, served in a sliced bun as a sandwich.