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If the gross profit of a business is lower than it was in the previous year, which one of the following must have happened? A
If the gross profit of a business is lower than it was in the previous year, which one of the following must have happened?
A The sales for the year were lower than the previous year.
B At least one of the options presented must have happened.
C The cost of sales for the year was higher than for the previous year.
D The average markup was lower than the previous year.
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