Use the following selected information from Wheeler, LLC to determine the 2017 and 2016 trend percentages for cost of goods sold using 2016 as the base.
A)36.4% for 2017 and 41.1% for 2016.
B)55.0% for 2017 and 56.0% for 2016.
C)119.4% for 2017 and 100.0% for 2016.
D)117.2% for 2017 and 100.0% for 2016.
E)65.1% for 2017 and 64.6% for 2016.

Question

Use the following selected information from Wheeler, LLC to determine the 2017 and 2016 trend percentages for cost of goods sold using 2016 as the base. 
A)36.4% for 2017 and 41.1% for 2016. 
B)55.0% for 2017 and 56.0% for 2016. 
C)119.4% for 2017 and 100.0% for 2016. 
D)117.2% for 2017 and 100.0% for 2016. 
E)65.1% for 2017 and 64.6% for 2016.

Quizplus · Accepted Answer

The trend percentage for 2017 is calculated by taking the current year cost of goods sold divided by the base year cost of goods sold (11,184,000/9,552,000) times 100, which is 117.2%. The trend percentage for 2016 is 100%. Therefore, the answer is D.

Use the Following Selected Information from Wheeler, LLC to Determine