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Required information ($ thousands) Net sales Cost of goods sold Current Year Prior Year $802,971 394,306 $454,365 135,325 Determine the Prior Year and Current
Required information ($ thousands) Net sales Cost of goods sold Current Year Prior Year $802,971 394,306 $454,365 135,325 Determine the Prior Year and Current Year trend percents for net sales using the Prior Year as the base year. (Enter the answers in thousands of dollars.) Answer is complete but not entirely correct. Trend Percent for Net Sales: Numerator: Denominator: Analysis period cost of goods sold Analysis period net sales Trend Percent Current Year: $ 394,306 / $ 802,971 - 49.1 % Prior Year: $ 135,325 $ 454,365 29.8 %
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