Refer to the selected data provided for Bloom's Garden Center. Which of the following would result from a horizontal analysis of Bloom's income statement?
A) Cost of goods sold is 50% of net sales for 2012.
B) Gross profit is 50% of net sales for 2012.
C) Cost of goods sold increased $20,000 or 11.1% during 2012.
D) Inventory decreased $5,000 or 25% during 2011.
C
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