Gross margin percent and markup percent Target Corp. (TGT) operates retail stores throughout the United States and is a major competitor of Wal-Mart. The following data (in millions) were adapted from recent financial statements of Target. Year 2 Year 1 Sales $72,618 $71,279 Cost of goods sold (51,278) (50,039) Gross profit $21,340 $21,240 1. Compute the gross profit percent for Years 1 and 2. Round to one decimal place. Gross profit percent Year 1 Year 2 % 2. Compute the average markup percent for Years 1 and 2. Round to one decimal place. Average Markup Percent Year 1 % Year 2 3. The gross profit percent slightly in Year 2. Likewise, the markup percent V in Year 2. This is change.Inventory shrinkage Intrax Inc.'s perpetual inventory records indicate that $815,400 of merchandise should be on hand on December 31, 20Y4. The physical inventory indicates that $798,300 of merchandise is actually on hand. Indicate the effects the inventory shrinkage adjustment on the liquidity metric working capital and profitability metric gross profit percent. Enter amounts that decrease net income as negative values. Metric Effects Liquidity Profitability Transaction Working Capital Gross Profit Percent Dec. 31 $ decrease