All of the following are used to compute gross profit except:

Name: All of the following are used to compute gross profit except:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Gross profit is calculated as sales minus the cost of goods sold (COGS). Office supplies are considered an operating expense, not a direct cost of goods sold, and therefore are not used in the calculation of gross profit. Sales, sales returns and allowances, and purchases are all components that affect the calculation of gross profit.

All of the Following Are Used to Compute Gross Profit