Shens Shoes had sales of $185,000 and cost of goods sold expense of $115,625 this year. The firm expects sales of $349,000 next year. If cost of goods sold expense remains at the same percentage of sales as it was this year, what should the firm forecast for next years cost of goods sold expense?

Multiple Choice

• 68,646

• $169,959

• $218,125

• $233,394

• $229,031