Its gross profit(loss) equals

A company has sales of $7,22,200 and cost of goods sold of $2,89,200.Its gross profit (loss) equals

(a) $1,011,240

(b) $2,89,200

(c) $7,22,200

(d) $4,33,000

Expert Solution

Calculation of Gross profit

Given information in the problem

Sales = $7,22,000

Cost of goods sold = $2,89,000

Formula for Calculating Gross profit

Gross Profit = Sales - Cost of goods sold

= $7,22,000 - $2,89,000

= $4,33,000

Option (d) $4,33,000 is the correct choice

option (d) $4,33,000 is the correct choice

balaji rao answered 3 years ago

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