Question: Chapter 4 Accounting for Merchandising Operations Required 1. Compute the dollar amount of gross margin and the gross margin ratio for the two years shown

Chapter 4 Accounting for Merchandising Operations Required 1. Compute the dollar amount of gross margin and the gross margin ratio for the two years shown for each of these companies. 2. Which company earns more in gross margin for each dollar of net sales? How do they compare to the industry average of 45.0%? 3. Did the gross margin ratio improve or decline for these companies

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