Question

Mussa Corporation reports the following​ data:

Net sales	$270,000
Cost of goods sold	180,000
Gross profit	$90,000

In vertical​ analysis, the cost of goods sold percentage is closest​ to: (Round your final answer to the nearest whole​ percentage)

Answer 1

		Amount
	Net Sales	$          270,000
	Cost of Goods sold	$          180,000
	Cost of Goods sold percentage =	180,000	×100
		270,000
	=	66.7%
	Cost of Goods sold percentage	67%

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