Use the following selected information from Wheeler,LLC to determine the 2015 and 2014 trend percentages for cost of goods sold using 2014 as the base.
A)36.4% for 2015 and 41.1% for 2014.
B)55.0% for 2015 and 56.0% for 2014.
C)119.4% for 2015 and 100.0% for 2014.
D)117.2% for 2015 and 100.0% for 2014.
E)65.1% for 2015 and 64.6% for 2014.

Question

Use the following selected information from Wheeler,LLC to determine the 2015 and 2014 trend percentages for cost of goods sold using 2014 as the base. 
A)36.4% for 2015 and 41.1% for 2014. 
B)55.0% for 2015 and 56.0% for 2014. 
C)119.4% for 2015 and 100.0% for 2014. 
D)117.2% for 2015 and 100.0% for 2014. 
E)65.1% for 2015 and 64.6% for 2014.

Quizplus · Accepted Answer

To calculate trend percentages for cost of goods sold, we need to divide the cost of goods sold for each year by the cost of goods sold for the base year (2014) and multiply by 100.

For 2014: Trend percentage = (Cost of goods sold in 2014 / Cost of goods sold in 2014) × 100 = 100%

For 2015: Trend percentage = (Cost of goods sold in 2015 / Cost of goods sold in 2014) × 100

Using the information given in the table, we can calculate the trend percentages for cost of goods sold as follows:

For 2014: (57,764 / 57,764) × 100 = 100%
For 2015: (67,654 / 57,764) × 100 = 117.2%

Therefore, the answer is D) 117.2% for 2015 and 100.0% for 2014.

Use the Following Selected Information from Wheeler,LLC to Determine the 2015