1. If all companies in the industry will experience an inflation rate of 6.06% on the cost of goods sold and sales volume is expected to shrink 6.98%, what is the expected percent change in cost of goods sold on the income statement?

(Enter your answer as a number with two decimal places but without the percent symbol. For example, if your answer is 89.12%, enter 89.12)

10. Assume sales volume for the company is expected to shrink 6.55% while their average price per unit is expected to rise 3.65% and all companies in the industry will experience an inflation rate of 9.28% on cost of goods sold. If cost of goods sold for the company was originally 15.69% of sales, what percent of sales will it become as a result of these factors?

(Enter your answer a number with two decimal places but without the percent symbol. For example, if your answer is 89.12%, enter 89.12)