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    Accounting : Gross Profit

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    A. Hillary Swank Clothiers had sales of $360,000 and cost of goods sold of $244,800. What is the gross profit margin (ratio of gross profit to sales)?

    b. If the average firm in the clothing industry had a gross profit of 35 percent how is the firm doing?

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    The gross profit margin (ratio of gross profit to sales)= Gross ...

    Solution Summary

    Gross profit is calculated.