Asked by Jacqueline Alonso on Jun 12, 2024
Verified
Sales minus operating expenses equals gross profit.
Operating Expenses
Costs incurred in the day-to-day operations of a business, such as rent, utilities, and salaries, excluding the cost of goods sold.
Gross Profit
The difference between sales revenue and the cost of goods sold, indicating the margin earned before accounting for operating expenses.
Sales
Transactions where goods or services are provided in exchange for payment.
- Comprehend the significance and calculation of gross profit in merchandising operations.
Verified Answer
Learning Objectives
- Comprehend the significance and calculation of gross profit in merchandising operations.
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