Assume the Following Cost of Goods Sold Data for a Company

question 61

Multiple Choice

Assume the following cost of goods sold data for a company: $\begin{array}{rr}2017 & \$ 1,704,000 \\2016 & 1,400,000 \\2015 & 1,200,000\end{array}$ If 2015 is the base year, what is the percentage increase in cost of goods sold from 2015 to 2017?

• A)70.4%
• B)42%
• C)85.7%
• D)117%

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Definitions:

Retrieval

The process of getting something back, or accessing information stored in the memory.

Spatial Location

The specific position or area within a three-dimensional space where an object or person is located.

Primacy Effect

the tendency to remember information that comes first in a list better than information that comes later.

Recency Effect

A memory phenomenon where the most recently presented items or experiences are more likely to be remembered than those presented earlier.