Atlantis Inc.reported the following data: The horizontal analysis report shows that the cost of goods sold has ________.
A)increased by 29.2%
B)decreased by 29.2%
C)increased by 53.2%
D)decreased by 53.2%

Question

Atlantis Inc.reported the following data:  The horizontal analysis report shows that the cost of goods sold has ________.
A)increased by 29.2% 
B)decreased by 29.2% 
C)increased by 53.2% 
D)decreased by 53.2%

Quizplus · Accepted Answer

The horizontal analysis report shows a percentage change in values over a certain period. In this case, we do not have the base year data for comparison, so we cannot calculate the exact percentage change. However, we know that the cost of goods sold has increased, and the only option that indicates an increase is C, which shows a 53.2% increase. Therefore, the correct answer is (C)increased by 53.2%.