Which of the following is a false statement about Gross Profit (GP) and/or the Gross Profit Margin (GPM)? Select one: O a. Firms attempting to sell higher-end products (like Nike and Ralph Lauren) focus on maximizing the GPM. In particular, they use GPM as a measure for success by charging a premiup price in the market, which does include consumers paying for the namie/brand/image. b. GPM is the second profit margin on the income statement. O c. GP is greater than EBIT. O d. GPM is always represented as a % of revenue. GP represents the dollars remaining after subtracting COGS from revenue. e