Payton Inc. reports in its 2017 annual report 10-K, sales of $8,180 million and cost of goods sold of $3,272 million. For next year, you project that sales will grow by 3% and that cost of goods sold percentage will be 1 percentage point higher. Projected cost of goods sold for 2018 will be: Select one: A. $3,304 million B. $3,813 million C. $3,454 million D. $3,370 million E. There is not enough information to determine the amount.
Payton Inc. reports in its 2017 annual report 10-K, sales of $8,180 million and cost of goods sold of $3,272 million. For next year, you project that sales will grow by 3% and that cost of goods sold percentage will be 1 percentage point higher. Projected cost of goods sold for 2018 will be: Select one: A. $3,304 million B. $3,813 million C. $3,454 million D. $3,370 million E. There is not enough information to determine the amount.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Payton Inc. reports in its 2017 annual report 10-K, sales of $8,180 million and cost of goods sold of $3,272 million. For next year, you project
that sales will grow by 3% and that cost of goods sold percentage will be 1 percentage point higher. Projected cost of goods sold for 2018
will be: Select one:
A. $3,304 million
B. $3,813 million
C. $3,454 million
D. $3,370 million
E. There is not enough information to determine the amount.
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