Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 13 - No. 23)
What will happen if the sales revenue is $300,000 and the cost of sales is $210,000?
The gross profit will be $510,000
The business is making a loss.
The gross profit will be $90,000
The business made the cost back
Explanation
Gross Profit = Sales Revenue - Cost of Sales. Gross profit will be 300,000 - 210,000 = $90,000
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