In a common size income statement for 2012,the cost of goods sold is expressed as

A) 40.0%
B) 64.3%
C) 100.0%
D) 230.0%

Question

In a common size income statement for 2012,the cost of goods sold is expressed asA) 40.0%B) 64.3%C) 100.0%D) 230.0%

Akeem Wright · Accepted Answer

Final Answer : B, Explanation :   In a common size income statement, each item is expressed as a percentage of sales. For 2012, the cost of goods sold is $100,000 and sales are $155,500. The calculation is   100 , 000 155 , 500 × 100 = 64.3 %  \frac{100,000}{155,500} 	imes 100 = 64.3\%  155 , 500 100 , 000 ​ × 100 = 64.3%  .

In a common size income statement for 2012,the cost of goods sold is expressed as

A) 40.0%
B) 64.3%
C) 100.0%
D) 230.0%

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