Exercise 13-3 Computing and interpreting trend percents LO P1 Sales Cost of goods sold Accounts receivable...

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Exercise 13-3 Computing and interpreting trend percents LO P1 Sales Cost of goods sold Accounts receivable 2019 2018 2017 201

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Answer 1

Answer #1

Calculate trend percent for each of the accounts
Net sales
	Choose numerator	/	Choose denominator	=	Trend percent
	Analysis period net sales		Base year net sales
2019	$718,080		$198,300		362.12%
2018	$478,720		$198,300		241.41%
2017	$384,514		$198,300		193.91%
2016	$275,637		$198,300		139.00%

Cost of goods sold
	Choose numerator	/	Choose denominator	=	Trend percent
	Analysis period cost of goods sold		Base year cost of goods sold
2019	$347,128		$95,184		364.69%
2018	$231,436		$95,184		243.15%
2017	$187,867		$95,184		197.37%
2016	$133,706		$95,184		140.47%

Accounts receivable
	Choose numerator	/	Choose denominator	=	Trend percent
	Analysis period accounts receivable		Base year accounts receivable
2019	$34,827		$13,544		257.14%
2018	$27,909		$13,544		206.06%
2017	$26,378		$13,544		194.76%
2016	$16,097		$13,544		118.85%

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Answer 2

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