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LOST, Inc.'s reported the following (selected) information on its most recent financial statements: The company's gross profit percentage last period was 48%. Which of the

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LOST, Inc.'s reported the following (selected) information on its most recent financial statements: The company's gross profit percentage last period was 48%. Which of the following statements is TRUE in regard to the company's gross profit percentage? (GP \% = Gross Profit / Sales Revenues)

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