Qusetion: A company reports the following comparative income statements:
2011 2010
Net Sales................$736,000 $840,000
Cost of Golds sold.......518,880 571,200
Gross Profit ............217,120 268,800
Operating Expenses.......104,800 130,000
Net Income...............112,320 138,800
What are the costs of goods sold in common-size percents for 2010 and 2011, respectively?