Question

Calculate gross profit given hints
Net sales=10000
cost of goods sold=8000

Answer 1

Explanation:

Gross profit = Net sales - cost of goods sold

Gross profit = 10,000 - 8,000

Gross profit = 2,000

Hence, Gross profit = 2,000

Answer 2

Answer:

GROSS PROFIT = 2,000

Explanation:

GIVEN:-

COST OF GOODS SOLD (COGS) = OPENING STOCK + PURCHASE + DIRECT EXPENCE - CLOSING STOCK

COGS = 8,000

NET SALES = 10,000

GROSS PROFIT = SALES - COGS

                            = 10,000 - 8,000

                            = 2,000