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Gross profit on sales is calculated by subtracting (Points : 5) sales returns and allowances from sales. cost of goods sold from net sales. ending inventory from the total merchandise available for sale. total expenses from sales.
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Gross profit on sales is calculated by subtracting cost of goods sold from net sales.
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Asked 10/6/2012 6:41:20 PM
Updated 2/20/2018 12:39:52 PM
1 Answer/Comment
Flagged by Wallet.ro [2/20/2018 10:02:29 AM], Unflagged by jeifunk [2/20/2018 11:34:43 AM], Edited by jeifunk [2/20/2018 11:34:48 AM], Edited by jeifunk [2/20/2018 12:39:52 PM]
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Gross profit on sales is calculated by subtracting cost of goods sold from net sales.
Added 2/20/2018 10:02:28 AM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [2/20/2018 12:39:54 PM]
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Added 11/19/2014 3:43:45 PM
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