Gross profit for a manufacturing business is calculated by deducting cost of goods manufactured from net sales.

Name: Gross profit for a manufacturing business is calculated by deducting cost of goods manufactured from net sales.
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Question

Quizplus · Accepted Answer

Gross profit is calculated by deducting the cost of goods sold (COGS) from net sales, not the cost of goods manufactured. COGS includes the cost of producing the goods that were actually sold to customers.

Gross Profit for a Manufacturing Business Is Calculated by Deducting