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Question 5 of 6 -/1 Cato is a West Coast company with more than 400 drug stores. Financial information for fiscal 2020 and 2019 follows:

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Question 5 of 6 -/1 Cato is a West Coast company with more than 400 drug stores. Financial information for fiscal 2020 and 2019 follows: (in thousands) Sales Cost of merchandise sold Merchandise inventory Fiscal 2020 $4.979,300 3,452,100 494,110 Fiscal 2019 $4,817.500 3,844,700 558,000 (a) Compute the gross margin percentage for both years. (Round answers to 1 decimal place. eg. 10.6%) 2020 2019 Gross margin percentage Question 5 of 6

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