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At the end of 2019, the income statement for the Poor Boy Restaurant listed cost of food, as a percentage of sales, at 29.0% whereas
At the end of 2019, the income statement for the Poor Boy Restaurant listed cost of food, as a percentage of sales, at 29.0% whereas at the end of 2018 the cost of food was 29.0%. Which of the following statements is true?
A: Food Cost increased at a faster rate than sales.
B: Food Cost increased at a slower rate than sales
C: Food Cost increased at the same rate as sales
D: You cannot determine the increase with the information provided
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