What are the common size percentages for cost of goods sold in 2017 and 2016 based on Wheeler, LLC's data?

The common size percentages for cost of goods sold in 2017 and 2016 are as follows: a. 42.0% for 2017 and 32.0% for 2016.

Determining Common Size Percentages for Cost of Goods Sold

03 May 2023

Common size % for cost of goods sold: Cost of goods sold / Net sales

For 2017: $219,400 / $522,200 = 0.4201456 = 42%

For 2016: $135,440 / $423,400 = 0.31988663 = 31.99%

Therefore, the common size percentage for cost of goods sold is 42.0% for 2017 and 32.0% for 2016 based on the provided data from Wheeler, LLC.