Question

Ending finished goods inventory selling expenses administrative expenses what is the gross profit?

Answer 1

Gross Profit = Revenue - Cost of Goods Sold is the formula for calculating gross profit.

What is Gross profit?

Gross profit is the amount of money your company makes after paying its expenses. Your net profit is your earnings after all expenses have been paid. The money that remains after an organization has paid for the products and services it sold is known as gross profit. The amount that is left over after all costs and taxes have been paid is the company's net profit.

The profit a company makes after deducting all of the expenses involved to producing and offering its goods or services is known as gross profit. The cost of goods sold (COGS) is subtracted from your total sales to determine gross profit.

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