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
36.4% for Year 2 and 41.1% for Year 1.
117.5% for Year 2 and 100.0% for Year 1.
65.1% for Year 2 and 64.6% for Year 1.
55.0% for Year 2 and 56.0% for Year 1.
119.4% for Year 2 and 100.0% for Year 1.
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