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Determine the Prior Year and Current Year trend percents for net sales using the Prior Year as the base year.

Determine the Prior Year and Current Year trend percents for net sales using the Prior Year as the base year.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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am. 113.

Required information ($ thousands) Net sales Cost of goods sold Current Year $ 801, 810 392,887 Current Year: Prior Year: Determine the Prior Year and Current Year trend percents for net sales using the Prior Year as the base year. Note: Enter the answers in thousands of dollars. Prior Year $ 453,000 134,088 Numerator: Analysis period net sales $ $ Trend Percent for Net Sales: Denominator: / Base year net sales 392,887 / $ 134,088 / $ = 801,810 453,000 = Trend percent 49.0 % 29.6 %
Transcribed Image Text:Required information ($ thousands) Net sales Cost of goods sold Current Year $ 801, 810 392,887 Current Year: Prior Year: Determine the Prior Year and Current Year trend percents for net sales using the Prior Year as the base year. Note: Enter the answers in thousands of dollars. Prior Year $ 453,000 134,088 Numerator: Analysis period net sales $ $ Trend Percent for Net Sales: Denominator: / Base year net sales 392,887 / $ 134,088 / $ = 801,810 453,000 = Trend percent 49.0 % 29.6 %
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