Wolfe, Inc., had net sales of $212,000 and cost of goods sold of $128,000 in 2016; net

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Wolfe, Inc., had net sales of $212,000 and cost of goods sold of $128,000 in 2016; net sales of $263,000 and cost of goods sold of $161,000 in 2017; and net sales of $325,000 and cost of goods sold of $200,000 in 2018.

1. Find the percentage of increase in net sales from 2016 to 2017 and from 2017 to 2018. Round your answer to the nearest tenth of a percent.

2. Find the percentage of increase in gross profit from 2016 to 2017 and from 2017 to 2018. Round your answer to the nearest tenth of a percent.

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Financial Accounting

ISBN: 978-0134727790

5th edition

Authors: Robert Kemp, Jeffrey Waybright

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Question Posted: Dec 23, 2019 08:38 AM

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Wolfe, Inc., had net sales of $212,000 and cost of goods sold of $128,000 in 2016; net

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Financial Accounting

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