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.

Question

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.

Quizplus · Accepted Answer

The Answer of 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.

Use the Following Selected Information from Wheeler, LLC to Determine