Question

Financial information is presented below: Operating Expenses $ 89400 Sales Returns and Allowances 26300 Sales Discounts 12700 Sales Revenue 309000 Cost of Goods Sold 157800 Gross profit would be

Answer 1

If the Cost of Goods Sold is  157800. Gross profit would be $151,200.

Gross profit

Using this formula

Gross profit=Sales revenue-Cost of goods sold

Where:

Sales revenue=$309,00

Cost of goods sold=$157,800

Let plug in the formula

Gross profit=$309,000-$157,800

Gross profit=$151,200

Therefore the Gross profit would be $151,200.

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