Use the Following Selected Information from Wheeler, LLC to Determine

question 165

Multiple Choice

Use the following selected information from Wheeler, LLC to determine the 2017 and 2016 common size percentages for cost of goods sold using Net sales as the base.

• A)36.4% for 2017 and 41.1% for 2016.
• B)55.0% for 2017 and 56.0% for 2016.
• C)119.4% for 2017 and 100.0% for 2016.
• D)117.2% for 2017 and 100.0% for 2016.
• E)65.1% for 2017 and 56.0% for 2016.

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Definitions:

Chattel

Personal property that can be moved, often used historically to refer to slaves as property.

Jamestown Census

The historical recordings of the population and demographic information of the Jamestown settlement, the first permanent English settlement in the Americas, established in Virginia in 1607.

Blacks

A term referring to people of African descent, often used in the context of discussing ethnic, cultural, or racial identity and issues.

Indentured Servants

Indentured servants were individuals who agreed to work for a certain number of years in exchange for transportation to the New World and, once they arrived, food, clothing, and shelter.