What is the formula for gross proift?

Answer by  VB (361)

Gross profit is how much money a business/person actually makes. So the formula is give by (gross product) = (amount of money paid by a customer to buy your product) - (amount of money returned to a customer for a refund) - (amount of amount used to make the product).

Answer by  JayTee (48)

Gross profit is the amount of total revenue leftover after all costs and expenditures are deducted. Some examples of costs and expenditures might be raw materials, utility, salary, or cost of goods.

Answer by  Kiwi48 (99)

Gross profit is sales minus cost of goods sold, or COGS. When determining gross profit, you should not consider operating expenses. As a rule, only costs directly related to the product sold are considered under COGS. Fixed costs generally are not part of COGS.

Answer by  njanetos (69)

Gross profit is simply the revenue brought in by selling a product minus the cost of the material used to make that product.

Answer by  nugzin2040 (48)

The formula for gross profit is total revenue minus total expenses accrued in the process of gaining that total revenue.

Answer by  VB (361)

Gross profit is all the money that was taken in. So, it should be the price of the items sold multiplied by the number sold.

Answer by  ralphralpho (79)

The gross profit is the total revenue subtracted by the cost of generating that revenue. In other words, gross profit is sales minus cost of goods sold.It tells you how much money a business would have made if it didn't pay any other expenses.