Assume the following cost of goods sold data for a company: $$\begin{array} { r r }
2017 & \$ 1,704,000 \
2016 & 1,400,000 \
2015 & 1,200,000
\end{array}$$ If 2015 is the base year what is the percentage increase in cost of goods sold from 2015 to 2017?
A) 70.4%
B) 42%
C) 85.7%
D) 117%

Question

Assume the following cost of goods sold data for a company: $$\begin{array} { r r } 
2017 & \$ 1,704,000 \
2016 & 1,400,000 \
2015 & 1,200,000
\end{array}$$ If 2015 is the base year what is the percentage increase in cost of goods sold from 2015 to 2017?
A) 70.4%
B) 42%
C) 85.7%
D) 117%

Quizplus · Accepted Answer

The percentage increase from 2015 to 2017 is calculated as $(1,704,000 - 1,200,000) / 1,200,000 \times 100 = 42\%$.

Assume the Following Cost of Goods Sold Data for a Company