Bargain Merchandisers has the following transactions for the month of July. $$\begin{array} { | l | r | }
\hline \text { Net Sales Revenue } & \$ 403,000 \
\hline \text { Cost of Goods Sold } & 310,000 \
\hline \text { Operating Expenses } & 85,000 \
\hline \text { Interest Revenue } & 7,000 \
\hline
\end{array}$$ Calculate Gross Profit.
A) $8,000
B) $93,000
C) $185,000
D) $1,000

Question

Bargain Merchandisers has the following transactions for the month of July. $$\begin{array} { | l | r | } 
\hline \text { Net Sales Revenue } & \$ 403,000 \
\hline \text { Cost of Goods Sold } & 310,000 \
\hline \text { Operating Expenses } & 85,000 \
\hline \text { Interest Revenue } & 7,000 \
\hline
\end{array}$$ Calculate Gross Profit.
A) $8,000
B) $93,000
C) $185,000
D) $1,000

Quizplus · Accepted Answer

Gross Profit is calculated as Net Sales Revenue minus Cost of Goods Sold, which is $403,000 - $310,000 = $93,000.

Bargain Merchandisers Has the Following Transactions for the Month of July