The following information is provided from Ace Electronics' annual report for the years ended December 31:

-Refer to the Ace Electronics annual report above.Using horizontal analysis with 2010 as the base year,$\bold{2012}$ Cost of goods sold would be represented as ________.
A)24%
B)20%
C)29%
D)25%

Question

The following information is provided from Ace Electronics' annual report for the years ended December 31:

-Refer to the Ace Electronics annual report above.Using horizontal analysis with 2010 as the base year,$\bold{2012}$ Cost of goods sold would be represented as ________.
A)24% 
B)20% 
C)29% 
D)25%

Quizplus · Accepted Answer

Horizontal analysis involves comparing financial data over a series of periods. If 2010 is the base year, the percentage change for 2012 is calculated relative to 2010. The correct percentage representation of the 2012 Cost of Goods Sold compared to 2010 is 25%.

The Following Information Is Provided from Ace Electronics' Annual Report 2012\bold{2012}2012

The Following Information Is Provided from Ace Electronics' Annual Report $\bold{2012}$