Explain whether the trends are favorable and unfavorable, Accounting Basics

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Explain whether the trends are favorable and unfavorable

Question: The following items were taken from the financial statements of David Ligaogao, Inc., over a four-year period: Item 2024 2023 2022 2021 Net Sales P800,000 P650,000 P500,000 P480,000 Cost of Goods Sold 580,000 460,000 320,000 380,000 Gross Profit P220,000 190,000 P180,000 P100,000 Required: Using horizontal analysis, compute the trend percentages for net sales, cost of goods sold, and gross profit. Explain whether the trends are favorable and unfavorable for each item.

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Accounting Basics: Explain whether the trends are favorable and unfavorable

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