Inferring Financial Information Using Gross Profit Percentage and Year-over-Year Comparisons
A consumer products company reported a 25 percent increase in sales from 2009 to 2010. Sales in 2009 were $200,000. In 2010, the company reported Cost of Goods Sold in the amount of $150,000. What was the gross profit percentage in 2010? Round to one decimal place.
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