Question
From last year to this year, Berry Barn reported that its Net Sales increased from $300,000 to $400,000 and its Gross Profit increased from $90,000
From last year to this year, Berry Barn reported that its Net Sales increased from $300,000 to $400,000 and its Gross Profit increased from $90,000 to $130,000.
Was the Gross Profit increase caused by
(a) an increase in sales volume only,
(b) an increase in gross profit per sale only, or
(c) a combination of both?
Explain your answer.
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Financial Reporting And Auditing In Sovereign Operations Technical Guidance Note
Authors: Asian Development Bank
1st Edition
9292698192, 978-9292698195
