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A Disadvantage of the Gross Profit Method Is That It

question 146

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A disadvantage of the gross profit method is that it uses past percentages in determining the markup.


Definitions:

Density

The weight of a substance divided by its volume, typically measured in grams per cubic centimeter (g/cm³) or kilograms per cubic meter (kg/m³).

Volume

The amount of space that an object or substance occupies or contains, measured in cubic units.

Material

The substance or substances out of which a thing is or can be made, often categorized by its physical properties, such as hardness, elasticity, and density.

Liquid Sample

A portion or quantity of liquid taken to represent the whole, used for analysis or testing.

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