The GP ratio of the previous year was 30%. In the current year wages are expected to rise to the extent of 2% of sales. What shall be the GP ratio in the current year?
a)30%
b)32%
c)28%
d)None of the above.
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I think it should be 28%
But the answer given by ICAI is 30%.
Higher cost of good sold with constant sales prices will decrease the GP ratio.Can you please tell us the source of question?
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