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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10-10-2017
Business

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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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HomertheGenius HomertheGenius · Answer 1 · 2017-10-22T20:37:50+02:00

HomertheGenius HomertheGenius

22-10-2017

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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