Calculating Gross and Profit Margins for Canadian Tire

In 2012, Canadian Tire Corporation reported sales revenue of $11,427.2 million, cost of goods sold of $7,929.3 million, and profit of $499.2 million. In 2011, it reported sales revenue of $10,387.1 million, cost of goods sold of $7,326.4 million, and profit of $467.0 million. (a) Calculate the gross profit margin for each year. (b) Calculate the profit margin for each year 2012sales revenue of $11,427.2million, cost of goods sold of$7,929.3 million, profit of $499.2 million 2011 sales revenue of $10,387.1 million, cost of goods sold of $7,326.4 million, profit of $467.0 million. Gross profit? %4.4$499.2$11,427.24.5% $467. $10,387.1 =Olaf uses perpetual inventory system -Record transitions and journalize April 3. Purchases merchandise from devito for 28k, terms 1/10, n/30. Fob shipping point (buyer pays costs) April 6 paid freight costs of 700 Aril 7, purchased supplies on acc for 5000