Question

y, inc. provides the following data from its income statement for​ 2024: net sales cost of goods sold ​(​) gross profit calculate the gross profit percentage.​ (round your answer to two decimal​ places.)

Answer 1

72.22% of the gross profit percentage.​

To calculate gross profit, subtract the cost of goods sold (COGS) from total sales and divide that number by total sales (gross profit = (total sales - the cost of goods sold)/gross sales). Gross profit is the income after deducting the cost of producing a product or providing a service.

Gross profit is the profit of a company after deducting costs associated with manufacturing and selling a product or providing a service. Gross profit is shown on a company's income statement and can be calculated by subtracting the cost of goods sold (COGS) from revenue (sales).

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