Intermediate Accounting 14th Edition

Published by Wiley
ISBN 10: 0470587237
ISBN 13: 978-0-47058-723-2

Chapter 4 - Using Your Judgment - Financial Reporting - Instructions - Page 200: c

Answer

P&G’s gross profit was 26,331 million in 2009, 21,236 million in 2008, and 19,249 million in 2007. The corporation’s gross profit went up by 24% in 2009 compared to 2008.

Work Step by Step

The gross profit increase in 2009 was primarily affiliated with the increase in sales from the expanding market share.
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