Required information Use the following information to determine the prior year and current year trend percents for net sales using the prior year as the base year. ($ thousands) Net sales. Cost of goods sold. Current Year $ 802,971 394,306 Current Year: Prior Year: Determine the Prior Year and Current Year common-size percents for cost of goods sold using net sales as the base. (Enter the answers in thousands of dollars.) Prior Year $ 454,365 135,325 Common-Size Percent for Cost of Goods Sold using Net Sales as the base: Denominator: Numerator: Analysis period cost of goods sold $ $ 394,306/ 135,325 / $ 454,365 Common-size percents 0 % 29.78 %

Required information Use the following information to determine the prior year and current year trend percents for net sales using the prior year as the base year. ($ thousands) Net sales. Cost of goods sold. Current Year $ 802,971 394,306 Current Year: Prior Year: Determine the Prior Year and Current Year common-size percents for cost of goods sold using net sales as the base. (Enter the answers in thousands of dollars.) Prior Year $ 454,365 135,325 Common-Size Percent for Cost of Goods Sold using Net Sales as the base: Denominator: Numerator: Analysis period cost of goods sold $ $ 394,306/ 135,325 / $ 454,365 Common-size percents 0 % 29.78 %

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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