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.
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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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