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1 Swank Clothiers had sales of $442,000 and cost of goods sold of $326,000. a. What is the gross profit margin (ratio of gross profit

1 Swank Clothiers had sales of $442,000 and cost of goods sold of $326,000. 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.) Gross profit margin 45:26 % b. If the average firm in the clothing industry had a gross profit of 36 percent, how is the firm doing? The firm is

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