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If the rate of growth in sales is greater than the rate of growth in cost of goods sold from one year to the next,
If the rate of growth in sales is greater than the rate of growth in cost of goods sold from one year to the next, which of the following will you most likely expect?
The gross margin percentage is increasing.
Inventory turnover is declining.
The gross margin percentage is decreasing.
Accounts receivable turnover is declining.
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Cornerstones of Managerial Accounting
Authors: Maryanne M. Mowen, Don Hanson, Dan L. Heitger, David McConomy, Jeffrey Pittman
2nd Canadian edition
978-0176721237, 978-0176530884
