Question/8110
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GS Retail reported the following for the past two fiscal years:
Net sales
Cost of goods sold
Profit
2021
2020
$922,000
$795,000
582,704
493,695
67,306
63,600
Calculate the gross profit margin and profit margin for both years. (Round answers to 2 decimal places, e.g. 12.7
2021
2020
Gross profit margin
%
Profit margin
%
eTextbook and Media
%