What is gross profit margin

Reference no: EM131947277

Swank Clothiers had sales of $378,000 and cost of goods sold of $314,000.

a. What is the gross profit margin (ratio of gross profit to sales)? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

b. If the average firm in the clothing industry had a gross profit of 40 percent, how is the firm doing?

Reference no: EM131947277

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