Question
ack Corporation uses horizontal analysis to compare its income statement from year to year. Jack Corporation reported the following data last year as well as
ack Corporation uses horizontal analysis to compare its income statement from year to year. Jack Corporation reported the following data last year as well as the percent change when compared to the current year:
| Total Last Year | % Change in Current Year | |
| Sales Revenue | $600,000 | 7.00% |
| Cost of Goods Sold | $180,000 | 1.00% |
| Gross Profit | $420,000 |
What is the Cost of Goods Sold in the current year?
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Auditing Concepts For A Changing Environment
Authors: Larry E. Rittenberg, Bradley J. Schwieger
5th Edition
0324223102, 978-0324223101
