Ironworks, Inc. has cost of goods sold for the years 2016, 2015 and 2014 respectively of $28,400, $26,400 and $25,100. If 2014 is the base year, the trend percentage for 2016 is: (Round your final answer to two decimal places, X.XX%.)

Question

Quizplus · Accepted Answer

To calculate the trend percentage for 2016 using 2014 as the base year, you divide the cost of goods sold in 2016 by the cost of goods sold in 2014 and then multiply by 100. So, ($28,400 / $25,100) * 100 = 113.15%.