Question
GS Retail reported the following for the past two fiscal years: 2021 2020 Net sales $935,000 $818,000 Cost of goods sold 591,855 511,250 Profit
GS Retail reported the following for the past two fiscal years: 2021 2020 Net sales $935,000 $818,000 Cost of goods sold 591,855 511,250 Profit 68,255 68,712 Calculate the gross profit margin and profit margin for both years. (Round answers to 2 decimal places, e.g. 12.73%.) 2021 2020 Gross profit margin % % Profit margin % % Comment on any changes in profitability. GS Retail's profitability has
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Net sales Less Cost of goods sold Gross Profit Gross Profit Div...
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Accounting Principles Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
8th Canadian Edition
111950242X, 1-119-50242-5, 978-1119502425
