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The gross profit ratio (gross profit / sales) increased, but the net profit margin (net profit / sales) remained unchanged over the same period. This
The gross profit ratio (gross profit / sales) increased, but the net profit margin (net profit / sales) remained unchanged over the same period. This could have happened if (select the best answer): cost of goods sold decreased relative to sales. sales increased relative to expenses. operating expenses increased relative to sales. Both A and C are possible reasons
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