Assume the following cost of goods sold data for a company: $\begin{array}{rr}
2020 & \$ 1,704,000 \
2019 & 1,400,000 \
2018 & 1,200,000
\end{array}$ If 2018 is the base year, what is the percentage increase in cost of goods sold from 2018 to 2020?

Question

Quizplus · Accepted Answer

The percentage increase from 2018 to 2020 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