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1. Manero Company included the following information in its annual report: 20X3 20X2 20X1 Sales $ 178,400 $ 162,500 $ 155,500 Cost of goods sold
1. Manero Company included the following information in its annual report:
20X3 | 20X2 | 20X1 | |||||||||
Sales | $ | 178,400 | $ | 162,500 | $ | 155,500 | |||||
Cost of goods sold | 115,000 | 102,500 | 100,000 | ||||||||
Operating expenses | 50,000 | 50,000 | 45,000 | ||||||||
Operating income | 13,400 | 10,000 | 10,500 |
In a common-size income statement for 20X3, the COGS is expressed as:
1. $473
2. $431
3. $6,667
4. $7,000
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