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Family Home & Security, Inc., sells Super padlocks. It reported an increase in net sales from $5.1 billion in 2014 to $5.4 billion in 2015,
Family Home & Security, Inc., sells Super padlocks. It reported an increase in net sales from $5.1 billion in 2014 to $5.4 billion in 2015, and an increase in gross profit from $1.6 billion in 2014 to $1.8 billion in 2015. 1. Calculate each year's gross profit percentage. (Round your answers to 1 decimal place.) 2015 2014 Gross Profit Percentage % % 2. Determine whether the change in gross profit represents a decrease in gross profit per sale. an increase in sales volume. a decrease in gross profit per sale and an increase in sales volume
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