1. A company experiences a 15% increase in sales over the previous year. However, gross profit actually decreased by 5% from the previous year. What are some of the possible causes for an increase in...

1. A company experiences a 15% increase in sales over the previous year. However, gross profit actually decreased by 5% from the previous year. What are some of the possible causes for an increase in sales but a decline in gross profit?

2. What accounts for the order in which current assets are presented on a balance sheet?