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Chocolove is a chocolate manufacturer with headquarters and a manufacturing facility in Boulder, Colorado. Assume a three-year scenario during which Chocolove's cost of goods increased

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Chocolove is a chocolate manufacturer with headquarters and a manufacturing facility in Boulder, Colorado. Assume a three-year scenario during which Chocolove's cost of goods increased by $1 per unit each year from $10 to $11 to $12. It priced its goods to achieve a 50% gross profit per unit (i.e. 100% markup). In years 1 and 2, Chocolove buys 1,000 units but sells only 700 units. In year 3, Chocolove buys 700 units, sells 1,300 . Assume Chocolove follows LIFO. The profit margin in year 2 , and the profit margin in year 3 . Select one: a. =50%;>50% b. =50%;50%; >50%

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