A Company Reports the Following Comparative Income Statements What Are the Costs of Goods Sold in Common-Size Percents

question 3

Essay

A company reports the following comparative income statements:
$\begin{array}{|l|r|r|}\hline&2011&2010\\\hline \text { Net sales } & \$ 736,000 & \$ 840,000 \\\hline \text { Cost of goods sold } & 518,880 & 571,200 \\\hline \text { Gross profit } & \$ 217,120 & \$ 268,800 \\\hline \text { Operating expenses } & 104,800 & 130,000 \\\hline \text { Net income } & \$ 112,320 & \$ 138,800 \\\hline\end{array}$
What are the costs of goods sold in common-size percents for 2010 and 2011,respectively?

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Definitions:

Exploitative

Utilizing someone or something unfairly for one's own advantage, often without regard for the welfare of the other party.

Personality Differences

The variations among individuals' behavioral traits, emotional responses, and thought processes, which can impact their interactions and performance in various settings.

Authoritarian Personality

A personality type characterized by adherence to strict obedience and control over others, often without consideration for their opinions or feelings.

Conscientiousness

A personality trait characterized by diligence, carefulness, and the desire to do a task well, often linked to high levels of responsibility and dependability.