Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 18 - Revenue Recognition - Review and Practice - Using Your Judgment - Financial Reporting Problem - Page 1049: b

Answer

Growth in net sales from 2012 to 2013 was by 575 million dollars which is a 0.701% growth. Growth in net sales from 2013 to 2014 was by 481 million dollars which is a 0.58% growth.

Work Step by Step

1. 2012 to 2013 is [(82,581 - 82,006) / 82,006 ]*100= 0.701% 2. 2013 to 2014 is [(83,062 -82,581) / 82,581 ]*100= 0.58%
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