Gross margin percent and markup percent Target Corp. (TGT) operates retail store

Question

Gross margin percent and markup percent

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.

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

Explanation / Answer

Calculations Particulars Year 2 Year 1 A Sales 72618 71279 B Cost of goods sold 51278 50039 C = A - B Gross Profit 21340 21240 D = C / A Gross profit percentage 29.4% 29.8% E = C / B Mark up percentage 41.6% 42.4%

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