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. (Enter the answers in thousands of dollars.)   ($ thousands) Current Year Prior Year Net sales $ 453,100   $ 230,000   Cost of goods sold   222,019     68,080               Trend Percent for Net Sales:   Choose Numerator: / Choose Denominator:         /   = Trend Percent Current Year:   /   =   % Prior Year:   /   =   %

Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter5: Inventories And Cost Of Goods Sold
Section: Chapter Questions
Problem 5.9E: Working Backward: Gross Profit Ratio Acmes gross profit ratio increased by 20% over the prior year....
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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. (Enter the answers in thousands of dollars.)
 

($ thousands) Current
Year
Prior
Year
Net sales $ 453,100   $ 230,000  
Cost of goods sold   222,019     68,080  
 

 

 
 
 
 
Trend Percent for Net Sales:
  Choose Numerator: / Choose Denominator:    
    /   = Trend Percent
Current Year:   /   =   %
Prior Year:   /   =   %
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