On october 30, 2020, a u. s. company forecasts that it will purchase merchandise from an italian supplier at the end of april 2021, in the amount of €100,000, and will pay the supplier on delivery. on october 30, the company enters a forward contract to buy €100,000 on april 30, 2021 and classifies it as a cash flow hedge of the forecasted purchase. on april 30, 2021, the company receives the merchandise, closes the forward contract and pays the supplier. the company's accounting year ends december 31.when the merchandise is sold by the company, what is the cost of goods sold

Engberg company installs lawn sod in home yards. the company’s most recent monthly contribution format income statement follows: amount percent of sales sales $ 80,000 100% variable expenses 32,000 40% contribution margin 48,000 60% fixed expenses 38,000 net operating income $ 10,000 required: 1. compute the company’s degree of operating leverage. (round your answer to 1 decimal place.) 2. using the degree of operating leverage, estimate the impact on net operating income of a 5% increase in sales. (do not round intermediate calculations.) 3. construct a new contribution format income statement for the company assuming a 5% increase in sales.