The sale price of the coat can be calculated by subtracting the discount from the original price.
To find the discount, we need to determine 1/3 of the original price ($120.00). To do this, we multiply the original price by 1/3:
$120.00 * 1/3 = $40.00
So, the discount on the coat is $40.00.
To find the sale price, we subtract the discount from the original price:
$120.00 - $40.00 = $80.00
Therefore, the sale price of the coat is $80.00.