retail management questions

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Question description

30. The manager of Contemporary Casuals was trying to determine if the gross margin return on investment had improved from last year. This year the average inventory at cost was $62,900 while last year it was $61,600. Last year net sales were $280,779 and this year they improved to $281,444. The gross margin percent for last year was 52.00% and this year it was 52.50%. Calculate the GMROI for this year and last year and determine if the GMROI has improved.

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(Top Tutor) Daniel C.
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