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.

1. Compute the gross profit percent for Years 1 and 2. Round to one decimal place.
2. Compute the average markup percent for Years 1 and 2. Round to one decimal place.
3. Compare the results in parts (1) and (2) for Years 1 and 2. Comment on your comparison.

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Year 2 $72,618 (51,278)(50,039) $21,340 Year 1 $71,279 Sales Cost of goods sold Gross profi $21,240