The following items were taken from the financial statements of Smalley, Inc., over a five-year period: Instructions
Using horizontal analysis and 2010 as the base year, calculate the trend percentages for net sales, cost of goods sold, and gross profit. Explain whether the trends are favourable or unfavourable for each item.

Question

The following items were taken from the financial statements of Smalley, Inc., over a five-year period:  Instructions
Using horizontal analysis and 2010 as the base year, calculate the trend percentages for net sales, cost of goods sold, and gross profit. Explain whether the trends are favourable or unfavourable for each item.

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The Answer of The following items were taken from the financial statements of Smalley, Inc., over a five-year period:  Instructions
Using horizontal analysis and 2010 as the base year, calculate the trend percentages for net sales, cost of goods sold, and gross profit. Explain whether the trends are favourable or unfavourable for each item.

The Following Items Were Taken from the Financial Statements of Smalley