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Home Q & A Board Other Fields Homework Help Business Accounting
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bravata bravata
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7 years ago
The following is a common-sized Income Statement for Sigma and Chi Companies.

(in thousands)   Sigma %   Chi %
Net Sales   100.0%   100.0%
Cost of Goods Sold   64.6%   60.8%
Gross Profit   35.4%   39.2%
Operating Expenses      
 Selling, General and Adm.   15.4%   15.3%
 Other   1.4%   1.5%
Income Before Income Tax   18.7%   22.4%
Income Tax Expense   2.7%   3.1%
Net Income   16.0%   19.3%

Which company has the best cost of goods sold percentage?
A) Not enough information is given to assess the question.
B) Sigma Company
C) Chi Company
D) Too close to make a solid determination.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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largerthanlifelargerthanlife
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7 years ago
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bravata Author
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#2
6 years ago
Let me just say, you are awesome Smiling Face with Open Mouth
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