1. Analysis of cost of goods sold problem.

1992 1993 1994

Gross Profit Margin 60% 55% 51%

What is happening to cost of goods sold? As was done in the week 2 online lecture on ratio analysis, please assume sales of 1 dollar each year as you do your analysis. You need to show the cost of goods as pennies per dollar of sales. This problem follows the process and format shown in the ratio analysis online lecture section titled: Another Income Statement Analytical Approach: Percent of Sales Sales assumed as 1 dollar, cost of goods and gross profit margin, expressed as pennies per dollar of sales should be shown.