Question
2018 2017 2016 2015 2014 Sales $ 80,000 $ 73,000 $ 61,000 $ 57,000 $ 50,000 Cost of goods sold 72,600 53,400 45,600 33,300 30,000
| 2018 | 2017 | 2016 | 2015 | 2014 | |||||||||||
| Sales | $ | 80,000 | $ | 73,000 | $ | 61,000 | $ | 57,000 | $ | 50,000 | |||||
| Cost of goods sold | 72,600 | 53,400 | 45,600 | 33,300 | 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.
Required A
Required B
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. (Round your answers to the nearest whole percent. i.e. 1.2345 as 123%.)
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State whether the trends are favorable or unfavorable.
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Auditing And Assurance Services
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley
12th Edition
0136128270, 9780136128274
