Jack Corporation uses horizontal analysis to compare its income statement from year to year. Jack Corporation reported the following data last year as well as the percent change when compared to the current year:
Total Last Year % Change in Current Year
Sales Revenue $600,000 7.00%
Cost of Goods Sold $180,000 1.00%
Gross Profit $420,000
What is the Cost of Goods Sold in the current year?
A. $657,600
B. $560,748
C. $642,000
D. $42,000
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