Gross profit is a measure of the amount of sales dollars available to cover expenses after covering the cost of the goods sold.

Name: Gross profit is a measure of the amount of sales dollars available to cover expenses after covering the cost of the goods sold.
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Question

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Gross profit is calculated by subtracting the cost of goods sold (COGS) from revenue. The resulting figure represents the amount of sales dollars available to cover expenses and generate a profit.

Gross Profit Is a Measure of the Amount of Sales