Given the following information for a certain line of merchandise, calculate the GMROI (gross margin return on inventory investment), net sales, $100,000, cost of goods sold, $60,000, beginning-of-the-year inventory, $48,000, inventory at mid-year, $82,000, and end-of-the-year inventory, $50,000. a. 20% b. 120% c. 40% d. 80% e. 60%