Question
To follow is selected information about The Boston Company for the current year and prior year. Account Current Prior Net sales revenue $ 651 comma
To follow is selected information about The Boston Company for the current year and prior year.
Account Current Prior Net sales revenue $ 651 comma 000$651,000 $595,000 Cost of goods sold $ 417 comma 720$417,720 $425,000 Gross profit $233,280 $170,000 Selling/general expenses $149,040 $93,500 Net income before tax $84,240 $76,500 Income tax $25,920 $22,800 Net income $58,320 $53,700
What is the current year's cost of goods sold percentage (as would be found on a vertical analysis of the income statement for the current year)?
A. 64.1764.17% B. 8.968.96% C. minus2.422.42% D. 35.8335.83%
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