Use the Following Selected Information from Farris,LLC to Determine the Year

question 161

Multiple Choice

Use the following selected information from Farris,LLC to determine the Year 2 and Year 1 common size percents for cost of goods sold using Year 1 net sales as the base.

• A)36.4% for Year 2 and 41.1% for Year 1.
• B)55.0% for Year 2 and 56.0% for Year 1.
• C)119.4% for Year 2 and 100.0% for Year 1.
• D)117.2% for Year 2 and 100.0% for Year 1.
• E)65.1% for Year 2 and 64.6% for Year 1.

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