Assume the Following Cost of Goods Sold Data for a Company

question 20

Multiple Choice

Assume the following cost of goods sold data for a company: $\begin{array}{rr}2020 & \$ 1,704,000 \\2019 & 1,400,000 \\2018 & 1,200,000\end{array}$ If 2018 is the base year, what is the percentage increase in cost of goods sold from 2018 to 2020?

• A) 70.4%
• B) 42%
• C) 85.7%
• D) 117%

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Definitions:

Divorce Rate

The divorce rate is a statistical measure that represents the number of divorces per unit of population within a specified time period or demographic.

Confidence Interval

A range of values derived from sample statistics that is likely to contain the true value of an unknown population parameter.

Population Proportion

The fraction or percentage of a population that exhibits a particular characteristic or attribute.

Marginal Error

The amount of error allowed in the results of a survey or experiment, affecting how the results can be interpreted; commonly associated with the term "margin of error."