Year 1      Year 2     YR 1    YR2 Sales (S)          $ 614,405.00      $ 600,343.00            Cost of Good Sold (COGS)          $ 385,101.00      $ 473,396.00            Gross Profit (GP)          $ 229,304.00      $ 226,947.00                                     Calculate the following: (round to nearest percent)          Answer     Answer (a) Mark-up percent for year 1         (b) Mark-up percent for year 2           (c) Gross Profit for year 1         (d) Gross Profit for year 2

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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           Year 1      Year 2     YR 1    YR2
Sales (S)          $ 614,405.00      $ 600,343.00           
Cost of Good Sold (COGS)          $ 385,101.00      $ 473,396.00           
Gross Profit (GP)          $ 229,304.00      $ 226,947.00         
                          
Calculate the following: (round to nearest percent)          Answer     Answer
(a) Mark-up percent for year 1        
(b) Mark-up percent for year 2          
(c) Gross Profit for year 1        
(d) Gross Profit for year 2        

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