Question

required information
($ thousands) current year prior year
net sales $ 803,338 $ 454,951
cost of goods sold 394,621 135,683

determine the prior year and current year trend percents for net sales using the prior year as the base year.
note: enter the answers in thousands of dollars.

trend percent for net sales;
year numerator / denominator = answer
= trend percent
current year: / = %
prior year: / = %

Explanation:

Step1: Recall Trend Percent Formula

Trend percent = (Current Year Amount / Base Year Amount) × 100 (for current year); for base year, it's (Base Year Amount / Base Year Amount) × 100. Base year is Prior Year.

Step2: Calculate Current Year Trend Percent

Numerator (Current Year Net Sales) = $803,338 (thousands), Denominator (Prior Year Net Sales) = $454,951 (thousands).
Trend percent = $\frac{803338}{454951} \times 100 \approx 176.6\%$

Step3: Calculate Prior Year Trend Percent

Numerator (Prior Year Net Sales) = $454,951 (thousands), Denominator (Prior Year Net Sales) = $454,951 (thousands).
Trend percent = $\frac{454951}{454951} \times 100 = 100\%$

Answer:

Current Year Trend Percent: ≈176.6%
Prior Year Trend Percent: 100%

(For the table:
Current Year: Numerator = 803338, Denominator = 454951, Answer = 176.6% (approx)
Prior Year: Numerator = 454951, Denominator = 454951, Answer = 100%)