BMX Co. sells item XJ15 for $1,000 per unit, and has a cost of goods sold percentage of 80%. The gross profit to be found for selling 20 items:

Question

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The gross profit is calculated as sales revenue minus the cost of goods sold. The cost of goods sold is 80% of the sales price, so the gross profit percentage is 20%. For 20 items sold at $1,000 each, the total sales revenue is $20,000. The gross profit is 20% of $20,000, which is $4,000.

BMX Co Sells Item XJ15 for $1,000 Per Unit, and Has