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A company's gross profit percentage increased from 37% to 41%. What does this mean? a)...

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Accounting

A company's gross profit percentage increased from 37% to 41%. What does this mean?

a) This means that cost of goods sold as a percentage of net sales decreased.

b) This means that operating expenses as a percentage of net sales decreased.

c) This means that cost of goods sold as a percentage of net sales increased.

d) There is not enough information to explain the increase.

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