Your company has sales of $ 105,500 this year and cost of goods sold of $ 71 comma 900. You forecast sales to increase to $ 114 comma 500 next year. Using the percent of sales method, forecast next year's cost of goods sold. The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career. The forecasted cost of goods sold (COGS) is $ nothing. (Round to the nearest dollar.)