Bennett, Inc., had net sales of $206,000 and cost of goods sold of $124,000 in 2010, net

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Bennett, Inc., had net sales of $206,000 and cost of goods sold of $124,000 in 2010, net sales of $252,000 and cost of goods sold of $153,000 in 2011, and net sales of $307,000 and cost of goods sold of $186,000 in 2012.

1. Find the percentage of increase in net sales from 2010 to 2011 and from 2011 to 2012.

2. Find the percentage of increase in gross profit from 2010 to 2011 and from 2011 to 2012.

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Financial Accounting

ISBN: 978-0133052152

2nd edition

Authors: Robert Kemp, Jeffrey Waybright

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Question Posted: Apr 29, 2014 03:20 AM

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Bennett, Inc., had net sales of $206,000 and cost of goods sold of $124,000 in 2010, net

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