Assume the following cost of goods sold data for a company: $$\begin{array} { l r }
2018 & \$ 1,400,000 \
2017 & 1,200,000 \
2016 & 1,000,000
\end{array}$$ If 2016 is the base year, what is the percentage increase in cost of goods sold from 2016 to 2018?
A) 140%
B) 40%
C) 20%
D) 17%

Question

Assume the following cost of goods sold data for a company: $$\begin{array} { l r } 
2018 & \$ 1,400,000 \
2017 & 1,200,000 \
2016 & 1,000,000
\end{array}$$ If 2016 is the base year, what is the percentage increase in cost of goods sold from 2016 to 2018?
A) 140%
B) 40%
C) 20%
D) 17%

Quizplus · Accepted Answer

The percentage increase from 2016 to 2018 is calculated as $(1,400,000 - 1,000,000) / 1,000,000 \times 100 = 40\%$.

Assume the Following Cost of Goods Sold Data for a Company