Use the following selected information from Farris, LLC to determine the Year 2 and Year 1 common size percents for cost of goods sold using Year 1 net sales as the base.
A) 36.4% for Year 2 and 41.1% for Year 1.
B) 55.0% for Year 2 and 56.0% for Year 1.
C) 119.4% for Year 2 and 100.0% for Year 1.
D) 117.2% for Year 2 and 100.0% for Year 1.
E) 65.1% for Year 2 and 64.6% for Year 1.

Question

Use the following selected information from Farris, LLC to determine the Year 2 and Year 1 common size percents for cost of goods sold using Year 1 net sales as the base. 
A) 36.4% for Year 2 and 41.1% for Year 1. 
B) 55.0% for Year 2 and 56.0% for Year 1. 
C) 119.4% for Year 2 and 100.0% for Year 1. 
D) 117.2% for Year 2 and 100.0% for Year 1. 
E) 65.1% for Year 2 and 64.6% for Year 1.

Quizplus · Accepted Answer

The Answer of Use the following selected information from Farris, LLC to determine the Year 2 and Year 1 common size percents for cost of goods sold using Year 1 net sales as the base. 
A) 36.4% for Year 2 and 41.1% for Year 1. 
B) 55.0% for Year 2 and 56.0% for Year 1. 
C) 119.4% for Year 2 and 100.0% for Year 1. 
D) 117.2% for Year 2 and 100.0% for Year 1. 
E) 65.1% for Year 2 and 64.6% for Year 1.

Use the Following Selected Information from Farris, LLC to Determine