The difference between sales and cost of goods sold is called

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Gross profit is the difference between sales and cost of goods sold. It represents the amount of revenue that exceeds the direct costs of producing the goods or services sold, which can then be used to cover other operating expenses and generate profit for the business. Intermediate profit and gross income are not commonly used accounting terms, while net income is the profit after all expenses, including taxes, are deducted from revenues.

The Difference Between Sales and Cost of Goods Sold Is