Ask Question
20 September, 15:21

Assume the following cost of goods sold data for a company: 2018$1417000 20171204000 20161018000 If 2016 is the base year, what is the percentage increase in cost of goods sold from 2016 to 2018

+4
Answers (1)
  1. 20 September, 15:44
    0
    39.19%

    Explanation:

    2018 $1,417,000

    2017 $1,204,000

    2016 $1,018,000

    if 2016 was the base year, then the % from 2016 to 2018 = ($1,417,000 - $1,018,000) / $1,018,100 = 39.19%

    we can also calculate the % increase from 2016 - 2017 and from 2017 - 2018 in a similar manner:

    2016 to 2017 increase = ($1,204,000 - $1,018,000) / $1,018,100 = 18.27%

    2017 to 2018 increase = ($1,417,000 - $1,204,000) / $1,204,100 = 17.69%
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Assume the following cost of goods sold data for a company: 2018$1417000 20171204000 20161018000 If 2016 is the base year, what is the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers