Wolfe, Inc., had net sales of $212,000 and cost of goods sold of $128,000 in 2014, net

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Wolfe, Inc., had net sales of $212,000 and cost of goods sold of $128,000 in 2014, net sales of $263,000 and cost of goods sold of $161,000 in 2015, and net sales of $325,000 and cost of goods sold of $200,000 in 2016. Round answers to the nearest tenth of a percent.

1. Find the percentage of increase in 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?

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Financial Accounting

ISBN: 978-0134436111

4th edition

Authors: Robert Kemp, Jeffrey Waybright

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