Which of the following is not acceptable as an explanation for a fall in gross profit ratio?
Question:
Which of the following is not acceptable as an explanation for a fall in gross profit ratio?
(a) Reduction in profit margin as a sales promotion strategy
(b) Error in ascertaining the amount and cost of closing inventory
(c) Failure to account for goods removed by proprietor or disposed of otherwise than by sale
(d) Shifting from LIFO to FIFO in times of rising prices
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Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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