Anthony Inc. reported the following amounts on their 2014 and 2013 income statements: $$\begin{array} { | l | r | r | }
\hline & \underline { 2014 } & \underline { 2013 } \
\hline \text { Net Sales } & \$ 20,438 & \$ 20,367 \
\hline \text { Cost of sales } & 7,943 & 8,198 \
\hline
\end{array}$$ Requirements:
A. Compute the gross profit percentage for years 2014 and 2013.
B. Provide at least two potential causes for the change in Anthony's gross profit percentage.

Question

Anthony Inc. reported the following amounts on their 2014 and 2013 income statements: $$\begin{array} { | l | r | r | } 
\hline & \underline { 2014 } & \underline { 2013 } \
\hline \text { Net Sales } & \$ 20,438 & \$ 20,367 \
\hline \text { Cost of sales } & 7,943 & 8,198 \
\hline
\end{array}$$ Requirements: 
A. Compute the gross profit percentage for years 2014 and 2013.
B. Provide at least two potential causes for the change in Anthony's gross profit percentage.

Quizplus · Accepted Answer

The Answer of Anthony Inc. reported the following amounts on their 2014 and 2013 income statements: $$\begin{array} { | l | r | r | } 
\hline & \underline { 2014 } & \underline { 2013 } \
\hline \text { Net Sales } & \$ 20,438 & \$ 20,367 \
\hline \text { Cost of sales } & 7,943 & 8,198 \
\hline
\end{array}$$ Requirements: 
A. Compute the gross profit percentage for years 2014 and 2013.
B. Provide at least two potential causes for the change in Anthony's gross profit percentage.

Anthony Inc Requirements: A

Anthony Inc Requirements:
A