What is the gross profit margin

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Question - Swank Clothiers had sales of $397,000 and the cost of goods sold of $334,000.

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.)

If the average firm in the clothing industry had a gross profit of 20 percent, how is the firm doing?

Reference no: EM132857085

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