The financial statements of Swifty Corporation for fiscal 2021 to fiscal 2023 are as follows (in thousands):InventorySalesGross marginNet incomeFiscal2023$305,5001,361,000486,42030,000Fiscal2022$319,2001,344,900485,85048,700Fiscal2021$303,3001,278,500455,02036,000 Calculate Swifty's gross profit percentage and percentage markup on cost for each fiscal year. (Round answers to 2 decimal places,eg. 52.75.)Percentage gross profitPercentage markup on costFiscal 202335.74 %3.43%Fiscal 202236.13 %5.67 %

GROSS PROFIT MARGIN Gross Profit Margin is the Ratio Between Gross Profit & Sales. Gross Profit…

Answered: Calculate Swifty's gross profit…

Cornerstones of Financial Accounting

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Chapter5: Sales And Receivables

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Problem 77E: Ratio Analysis The following information was taken from Logsden Manufacturings trial balances as of...

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Calculate Swifty's gross profit percentage and percentage markup on cost for each fiscal year. (Round answers to 2 decimal places, eg. 52.75) Percentage gross profit Percentage markup on cost Fiscal 2023 35.74 % 3.43 % Fiscal 2022 36.13 % 5.67 %