Cole Company has sales revenue of $39,000, cost of goods sold of $24,000 and operating expenses of $9,000 for the year ended December 31. Cole's gross profit is

Name: Cole Company has sales revenue of $39,000, cost of goods sold of $24,000 and operating expenses of $9,000 for the year ended December 31. Cole's gross profit is
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Question

Quizplus · Accepted Answer

Gross profit is calculated by subtracting the cost of goods sold from the sales revenue. Therefore, Cole Company's gross profit is $39,000 - $24,000 = $15,000.

Cole Company Has Sales Revenue of $39,000, Cost of Goods