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2 years ago

Blog Inc., has net sales of $50,000, cost of goods sold of $30,000, and selling expenses of $5,000. Its gross profit is ______.

1 answer:

3 0

Blog Inc., has net sales of $50,000, cost of goods sold of $30,000, and selling expenses of $5,000. Its gross profit is $20,000.

<h3>What is gross profit?</h3>

Gross profit is the profit of a company or an entity after subtracting all the costs that are related to manufacturing and selling its products or services.

Explanation:- Gross Profit = (Net Sales – Cost of Goods Sold)

= ($50,000- $30,000)

= $20,000

Hence, the gross profit of the Blog Inc., would be $20,000.

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