Washburn Company Reported Cost of Goods Sold of $977,000 for Year

Multiple Choice

Washburn Company reported cost of goods sold of $977,000 for Year 1 and $953,000 for Year 2. Using Year 1 as the base year, what was the percentage change for cost of goods sold from Year 1 to Year 2?

A) 2.49% decrease.
B) 2.52% decrease.
C) 2.52% increase.
D) 2.46% increase.
E) 2.46% decreasE.(953,000 - 977,000) /977,000 = 2.46% decrease