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GS Retail reported the following for the past two fiscal years:2021 2020 2021 2020 net sale 988000 788000 cost of good sold 626392 492500 profit

GS Retail reported the following for the past two fiscal years:2021 2020

	2021	2020
net sale	988000	788000
cost of good sold	626392	492500
profit	69160	63040

Calculate the gross profit margin and profit margin for both years.

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