Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Furniture Wholesale, Inc, had net sales of $215,000 and cost of goods sold of S124,000 in 2014, net sales of $299,000 and cost of goods

image text in transcribed

Furniture Wholesale, Inc, had net sales of $215,000 and cost of goods sold of S124,000 in 2014, net sales of $299,000 and cost of goods sold of 5170,000 in 2015, and net sales of 5325,000 and cost of goods sold of 5193,000 in 2016. Round answers to the nearest tenth of a percent 1. Find the percent net sales from 2014 to 2015 and from 2015 to 2016 2. Find the percentage of Increase in gross profit from 2014 to 2015 and from 2015 to 2016. ags of increase in Compute the percentage of increase in net sales and gross profit from 2014 to 2015 and from 2015 to 2016 Begin by selecting the omula to celo late the percentage of increase and then compute the percentage of increase or net sales and gross profit ). Round he percentages to the nearest tenth of a percent. XX% Year 1 amountYear 1 amount x 100Percentage change ( Year 2 amount ( Net sales 2014-2015 Net sales 2015-2016 GP 2014-2015 GP 2015-2016 100 x 100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ICSA Study Text In Management Accounting

Authors: Richard Lyall

4th Edition

186072308X, 978-1860723087

More Books

Students also viewed these Accounting questions

Question

=+a) What assumptions and/or conditions are violated by this model?

Answered: 1 week ago

Question

Discuss labor unrest in China.

Answered: 1 week ago

Question

Explain union decertification.

Answered: 1 week ago

Question

Describe collective bargaining in the public sector.

Answered: 1 week ago