For the period from 2017 to 2018, a company reports the following: percentage change in sales40% increasepercentage change in cost of goods sold20% increasepercentage change in gross profit35% increaseif sales are $7,000,000 in 2017, what are sales in 2018? a.$9,800,000b.$9,450,000c.$7,000,00 0d.$2,800,000

The correct answer is B: $9,800,000

Explanation:

Giving the following information:

For the period from 2017 to 2018, a company reports the following:

Percentage change in sales 40% increase.

Percentage change in the cost of goods sold a 20% increase.

Percentage change in gross profit 35% increase.

If sales are $7,000,000 in 2017, what are sales in 2018?

Sales 2018= 7000000*1.40= $9,800,000

answer/// equals both average variable cost and average total cost at their respective minimums;