Question

how is gross profit determined??

Answer 1

Answer:

Gross profit is the profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services. Gross profit will appear 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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Answer 2

Answer:

Picture 1 show what is gross profit and picture 2 show how we determine gross profit.