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A gift shop had a 42.5 % maintained markup. The shop did not incur any alterations or workroom costs and there were no cash discounts. Net sales were $420,000. What was the gross margin percent?

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A gift shop had a 42.5 % maintained markup. The shop did not incur

any alterations or workroom costs and there were no cash discounts. Net sales were $420,000. What was the gross margin percent?

 
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