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  1. business
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  3. at the end of 2020, the income statement for the p

At the end of 2020, the income statement for the Poor Boy Restaurant listed the...

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Accounting

At the end of 2020, the income statement for the Poor Boy Restaurant listed the cost of food sold, as a percentage of sales, at 28.5% whereas at the end of 2019, the cost of food was 27.5%. Which of the following statements is true?

A: Food Cost increased at a faster rate (%) than sales.

B: Food Cost increased at a slower rate (%) than sales

C:Food Cost increased at the same rate (%) as sales

D: You cannot determine the increase with the information provided

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