I need help with accounting

User Generated

417605nj

Business Finance

Description

A company has sales of $695,000 and cost of goods sold of $278,000. What is the gross profit?

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Gross Profit  =  Net Sales  -  Cost of Goods Sold

                      =  $695,000  -  $278,000

Gross Profit   =  $417,000


Anonymous
Nice! Really impressed with the quality.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags