Wright & Boyle Inc.had the following income statement for the month of May:
- What was the cost of goods sold percent? (Note: Round answer to two decimal places.)

A) 100.51%
B) 19.45%
C) 52.56%
D) 46.25%

Question

Wright & Boyle Inc.had the following income statement for the month of May:
- What was the cost of goods sold percent? (Note: Round answer to two decimal places.)
 
A) 100.51% 
B) 19.45% 
C) 52.56% 
D) 46.25%

Quizplus · Accepted Answer

SUPPORTING CALCULATIONS: Cost of goods sold percent = Cost of goods sold / Sales revenue = ($217,766.40 / $470,800) = 46.25%