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1.If all companies in the industry will experience an inflation rate of 9.89% on the cost of goods sold and sales volume is expected to

1.If all companies in the industry will experience an inflation rate of 9.89% on the cost of goods sold and sales volume is expected to shrink 5.02%, 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)

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2.Assume sales volume for the company is expected to shrink 6.60% while their average price per unit is expected to rise 3.30% and all companies in the industry will experience an inflation rate of 6.26% on cost of goods sold. If cost of goods sold for the company was originally 16.16% 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)

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