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Swank Clothiers had sales of $450,000 and cost of goods sold of $288,000. a. What is the gross profit margin (ratio of gross profit to

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Swank Clothiers had sales of $450,000 and cost of goods sold of $288,000. a. What is the gross profit margin (ratio of gross profit to sales)? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Gross profit margin b. If the average firm in the clothing industry had a gross profit of 30 percent, how is the firm doing? The firm is

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