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a. Swank Clothiers had sales of $383,000 and cost of goods sold of $260,000. What is the gross profit margin (ratio of gross profit to

a. Swank Clothiers had sales of $383,000 and cost of goods sold of $260,000.

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 25 percent? how is the firm doing?

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