Use the following selected information from Wheeler,LLC to determine the 2018 and 2017 trend percentages for cost of goods sold using 2017 as the base. $\begin{array}{lrrl}
&2018&&2017\
Net ~sales&\$ 276,200& & \$ 231,400 \
Cost ~of ~goods ~sold&151,90 0 & & 129,590 \
Operatirg ~expenses&55,240 & & 53,240 \
Net ~earmirgs&27,820 & & 19,820
\end{array}$
A)36.4% for 2018 and 41.1% for 2017.
B)55.0% for 2018 and 56.0% for 2017.
C)119.4% for 2018 and 100.0% for 2017.
D)117.2% for 2018 and 100.0% for 2017.
E)65.1% for 2018 and 64.6% for 2017.

Question

Quizplus · Accepted Answer

The trend percentage for cost of goods sold is calculated by dividing the current year's cost of goods sold by the base year's cost of goods sold and multiplying by 100. For 2018, the trend percentage is 151,900 / 129,590 * 100 = 117.2%. For 2017, the trend percentage is 129,590 / 129,590 * 100 = 100.0%.

Use the Following Selected Information from Wheeler,LLC to Determine the 2018