Olivera Company Provides the Following Data for the Year 2013

Multiple Choice

Olivera Company provides the following data for the year 2013:
$$\begin{array} { l r } \text { Sales revenue } & \$ 400,000 \\\text { Sales returns and allowances } & \$ 1,200 \\\text { Sales discounts } & \$ 800 \\\text { Cost of goods sold } & \$ 255,000\end{array}$$ On a vertical analysis, what percentage would be shown for cost of goods sold?

A) 59.4%
B) 61.0%
C) 63.4%
D) 64.1%