MP Co.'s gross profit percentage decreased from 59.2% in 2012 to 58.3% in 2013. This means that MP Co.'s cost of goods sold as a percentage of sales has decreased.

Name: MP Co.'s gross profit percentage decreased from 59.2% in 2012 to 58.3% in 2013. This means that MP Co.'s cost of goods sold as a percentage of sales has decreased.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

If the gross profit percentage decreased, it means that the cost of goods sold as a percentage of sales has increased, not decreased.

MP Co'S Gross Profit Percentage Decreased from 59