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In its year-end financial statements, Pillar Inc. reported the following (in millions): Sales year 2 $38,537; Sales year 1 $47,011: Cost of goods sold year
In its year-end financial statements, Pillar Inc. reported the following (in millions): Sales year 2 $38,537; Sales year 1 $47,011: Cost of goods sold year 2 $28,309; Cost of goods sold year 1 $33,546. As a percentage of sales, did Pillar's gross profit increase or decrease during the year? Select one: a. There is not enough information to answer the question Ob Gross profit increased from 250% to 20.00 O Gross profit increased from 71.4% to 750% Od Gross profit decreased from 28.6% to 25.0% O Gross profit decreased from 75.0% to 714%
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