In analyzing the income statement of Bob Company, cost of goods sold decreased from 2013 to 2014 by 8.2%. The cost of goods sold was $19,000 in 2014. The cost of goods sold to nearest dollar in 2013 was:
A) $20,697.17
B) $20,679.71
C) $20,769.71
D) $20,796.71
E) None of these

Question

Quizplus · Accepted Answer

Cost of goods sold in 2013 = $19,000 / (1 - 8.2%) = $20,697.17

In Analyzing the Income Statement of Bob Company, Cost of Goods