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