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Gross profit can be calculated as

Commerce
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Gross profit can be calculated as

  • A. Sales minus purchases
  • B. Sales minus cost of good sold
  • C. cost of goods available for sales minus sale
  • D. Cost of good sold minus cost of goods available for sale
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Correct Answer: Option B
Explanation

Gross profit represents the difference between sales revenue and the direct cost of producing or acquiring the goods solc during a specific period. To calculate gross profit, subtract the cost of goods sold (COGS) from the sales revenue. This calculation provides a measure of the profitability of a company's core operations before considering other expenses such as operating expenses, taxes, and interest.


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JAMB CBT Mobile App 2025 - Free Download
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