Family Home & Security, Inc., sells Super padlocks. It reported an increase in net sales from $5.0 billion in 2014 to $5.8 billion in 2015. and an increase in gross profit from $1.4 billion in 2014 to $1.6 billion in 2015. 1. Calculate each year's gross profit percentage. (Round your answers to 1 decimal place.) 2015 2014 Gross Profit Percentage 2. Determine whether the change in gross profit represents O a decrease in gross profit per sale. O an increase in sales volume. O a decrease in gross profit per sale and an increase in sales volume.

Family Home & Security, Inc., sells Super padlocks. It reported an increase in net sales from $5.0 billion in 2014 to $5.8 billion in 2015. and an increase in gross profit from $1.4 billion in 2014 to $1.6 billion in 2015. 1. Calculate each year's gross profit percentage. (Round your answers to 1 decimal place.) 2015 2014 Gross Profit Percentage 2. Determine whether the change in gross profit represents O a decrease in gross profit per sale. O an increase in sales volume. O a decrease in gross profit per sale and an increase in sales volume.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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