Question
2018 2017 2016 2015 2014 Sales $ 78,000 $ 66,000 $ 64,000 $ 59,000 $ 50,000 Cost of goods sold 62,400 56,400 44,100 41,400 30,000
| 2018 | 2017 | 2016 | 2015 | 2014 | |||||||||||
| Sales | $ | 78,000 | $ | 66,000 | $ | 64,000 | $ | 59,000 | $ | 50,000 | |||||
| Cost of goods sold | 62,400 | 56,400 | 44,100 | 41,400 | 30,000 | ||||||||||
Dollar amounts stated above are in thousands.
a. Compute trend percentages for the above items taken from the financial statements of Lopez Plumbing over a five-year period. Treat 2014 as the base year.
b. State whether the trends are favorable or unfavorable.
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Audit Analysis Part 1 Facts Of Auditing
Authors: Dr. L. KAILASAM
1st Edition
1670149455, 978-1670149459
