Question

For the period from 2017 to​ 2018, a company reports the​ following:Percentage change in sales​40% increasePercentage change in cost of goods sold​20% increasePercentage change in gross profit​35% increaseIf sales are​ $7,000,000 in​ 2017, what are sales in​ 2018?A.​$9,800,000B.​$9,450,000C.​$7,000,000D.​$2,800,000

Answer 1

Answer:

The correct answer is B: $9,800,000

Explanation:

Giving the following information:

For the period from 2017 to​ 2018, a company reports the​ following:

Percentage change in sales​ 40% increase.

Percentage change in the cost of goods sold​ a 20% increase.

Percentage change in gross profit​ 35% increase.

If sales are​ $7,000,000 in​ 2017, what are sales in​ 2018?

Sales 2018= 7000000*1.40= $9,800,000