A company has net sales of $132,000, cost of goods sold of $77,000, operating expenses of $32,000, and other expenses of $1,000. The company's gross profit is:

Name: A company has net sales of $132,000, cost of goods sold of $77,000, operating expenses of $32,000, and other expenses of $1,000. The company's gross profit is:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Gross profit is calculated as net sales minus the cost of goods sold. Therefore, $132,000 - $77,000 = $55,000.

A Company Has Net Sales of $132,000, Cost of Goods