Use the following selected Information from Letterman Corporation to determine the Year 1 and Year 2 common size percentages for cost of goods sold using Net Net sales Year 2 Year 1 $ 538,600 223,900 $ 436,200 Cost of goods sold Operating expenses Net earnings 135,830 81,640 78,680 41,260 29,260 Multiple Choice 123.5% for Year 2 and 100.0% for Year 1. 7.7% for Year 2 and 6.7% for Year 1. 56.7% for Year 2 and 49.2% for Year 1. 176.3% for Year 2 and 203.3% for Year 1. 41.6% for Year 2 and 31.1% for Year 1.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Use the following selected Information from Letterman Corporation to determine the Year 1 and Year 2 common size percentages for cost of goods sold using Net sale
Year
Year
Net sales
Cost of goods sold
2$
538,600
$4
436,200
223,900
135,830
Operating expenses
Net earnings
81,640
78,680
41,260
29,260
Multiple Choice
123.5% for Year 2 and 100.0% for Year 1.
7.7% for Year 2 and 6.7% for Year 1.
56.7% for Year 2 and 49.2% for Year 1.
176.3% for Year 2 and 203.3% for Year 1.
41.6% for Year 2 and 31.1% for Year 1.
Transcribed Image Text:Use the following selected Information from Letterman Corporation to determine the Year 1 and Year 2 common size percentages for cost of goods sold using Net sale Year Year Net sales Cost of goods sold 2$ 538,600 $4 436,200 223,900 135,830 Operating expenses Net earnings 81,640 78,680 41,260 29,260 Multiple Choice 123.5% for Year 2 and 100.0% for Year 1. 7.7% for Year 2 and 6.7% for Year 1. 56.7% for Year 2 and 49.2% for Year 1. 176.3% for Year 2 and 203.3% for Year 1. 41.6% for Year 2 and 31.1% for Year 1.
erterman Corporation to determine the Year 1 and Year 2 common size percentages for cost of goods sold using Net sates as the base
Year 1
S 436 200
135,830
78,680
29,260
Transcribed Image Text:erterman Corporation to determine the Year 1 and Year 2 common size percentages for cost of goods sold using Net sates as the base Year 1 S 436 200 135,830 78,680 29,260
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