Question

what is the formula to calculate gross profit
a. net sales less cost of goods sold
b. gross profit less expenses
c. net sales add cost of goods sold
d. net sales less expenses​

Answer 1

Explanation:

a. net sales less cost of goods sold

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