Use the following selected information from Carleton Incorporated to determine the Year 1 and Year...
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Accounting
Use the following selected information from Carleton Incorporated to determine the Year 1 and Year 2 trend percentages for cost of goods sold using Year 1 as the base.
| Year 2 | Year 1 | |
|---|---|---|
| Net sales | $ 450,000 | $ 425,000 |
| Cost of goods sold | 304,325 | 259,000 |
| Operating expenses | 55,240 | 53,240 |
| Net earnings | 27,750 | 19,800 |
Multiple Choice
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36.4% for Year 2 and 41.1% for Year 1.
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117.5% for Year 2 and 100.0% for Year 1.
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65.1% for Year 2 and 64.6% for Year 1.
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55.0% for Year 2 and 56.0% for Year 1.
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119.4% for Year 2 and 100.0% for Year 1.
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