Assume that cost of goods sold as a percentage of sales is


McKinnon Inc. reports current sales of $2,269 million and cost of goods sold of $963 million. For next year, you project sales will grow by 4%. What would be the projected cost of goods sold for next year? Assume that cost of goods sold as a percentage of sales is expected to remain constant.

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Finance Basics: Assume that cost of goods sold as a percentage of sales is
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