To calculate the percent change in the Cost of Goods Sold (COGS) from Quarter 1 to Quarter 2, follow these steps:
1. Identify the COGS values for Quarter 1 (Q1) and Quarter 2 (Q2) from the given table.
- COGS for Q1 = 30
- COGS for Q2 = 31
2. Calculate the difference in COGS between Q1 and Q2.
[tex]\[
\text{Difference in COGS} = \text{COGS in Q2} - \text{COGS in Q1} = 31 - 30 = 1
\][/tex]
3. Find the percent change using the formula:
[tex]\[
\text{Percent Change} = \left( \frac{\text{Difference in COGS}}{\text{COGS in Q1}} \right) \times 100
\][/tex]
4. Substitute the values into the formula:
[tex]\[
\text{Percent Change} = \left( \frac{1}{30} \right) \times 100
\][/tex]
5. Perform the division:
[tex]\[
\frac{1}{30} = 0.0333333333
\][/tex]
6. Multiply by 100 to convert to a percentage:
[tex]\[
0.0333333333 \times 100 = 3.3333333333
\][/tex]
Therefore, the percent change in COGS from Quarter 1 to Quarter 2 is approximately [tex]\(3.33\%\)[/tex].
