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1.The dress department had the following performance last year. Net sales were $150,000. Average inventory was $28,000 at retail. Cumulative markup was 48%. Gross margin

1.The dress department had the following performance last year.

Net sales were $150,000.

Average inventory was $28,000 at retail.

Cumulative markup was 48%.

Gross margin was 42%.

a.What is the GMROI? (1 point)

b.Interpret the meaning of the GMROI figure: (1 point)

c.What is the TO? (1 point)

d.Interpret the meaning of the TO figure: (1 point)

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