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12 August, 11:35

In 2009, an agricultural company introduced a new cropping process which reduced the cost of growing some of its crops. If sales in 2008 and 2009 were steady at $25 million, but the gross margin increased from 2.3% to 3.4% between those years, by what amount was the cost of sales reduced? A) $425,000 B) $275,000 C) $325,000 D) $575,000

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  1. 12 August, 12:51
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    The cost of sales reduced=25m * (3.4%-2.3%) = 275,000

    Answer is B
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