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11 July, 18:12

Ravens inc. has net sales of $200,000, cost of goods sold of $120,000, selling expenses of $6,000, and non operating expenses of $2,000. what is the company's gross profit

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  1. 11 July, 20:37
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    The Gross profit formula:

    Gross Profit = Revenue - (Cost of goods sold + Selling expenses + Non operating expenses)

    G P = $200,000 - ($120,000 + $6,000 + $2,000) =

    = $200,000 - $128,000 = $72,000

    Answer:

    The company's gross profit is $72,000.
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