(Answered) Mckinnon inc reports in its 2013 annual report sales of

Finance

McKinnon Inc. reports in its 2013 annual report, sales of $2,045 million and cost of goods sold of $818 million. For next year, you project that sales will grow by 5% and that cost of goods sold percentage will be 2 percentage points higher.

Projected cost of goods sold for 2014 will be:

Select one:

A. $834 million

B. $902 million

C. $859 million

D. $861 million

E. There is not enough information to determine the amount.

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