Author Question: When preparing a vertical analysis of an income statement, the "base" is gross sales. (Read 218 times)

HCHenry · **on:** Feb 26, 2020

Question 1

>Speedy Cleaning Service had a cost of beginning inventory of $40,000, net sales of $248,000, and gross sales of $465,000. Find the beginning inventory percent of net sales and gross sales percent of net sales.
◦ beginning inventory percent of net sales: 16.1%, gross sales percent of net sales: 61.9%
◦ beginning inventory percent of net sales: 61.9%, gross sales percent of net sales: 16.1%
◦ beginning inventory percent of net sales: 187.5%, gross sales percent of net sales: 16.1%
◦ beginning inventory percent of net sales: 16.1%, gross sales percent of net sales: 187.5%

Question 2

When preparing a vertical analysis of an income statement, the "base" is gross sales.
◦ True
◦ False

aloop · **Reply #1 on:** Feb 26, 2020

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 39% of students answer this correctly