Which one or more of the following will reduce a companys gross profit ratio? (a) Increasing profit
Question:
Which one or more of the following will reduce a company’s gross profit ratio?
(a) Increasing profit margins added to cost
(b) Omission from closing inventory of items with customers on sale or return basis
(c) Inability to pass on increasing cost of purchase to customers
(d) During rising prices, identify the cost of closing inventory on LIFO instead of FIFO
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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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