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Sales Cost of sales Year 2 $170,000 135,000 Year 1 $130,000 105.000 Gross profit $25,000 $ 35.000 3. Using the above information, calculate the
Sales Cost of sales Year 2 $170,000 135,000 Year 1 $130,000 105.000 Gross profit $25,000 $ 35.000 3. Using the above information, calculate the percentage increase or decrease in cost of sales from Year 1 to Year 2? a. Increase of 2.1% (b)Decrease of 1.4% c. Increase of 1.4% d. Decrease of 2.1%
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Financial Accounting Theory
Authors: William R. Scott
7th edition
132984660, 978-0132984669
