The following information is available: $$\begin{array} { | l | l | }
\hline \text { Sales } & \$ 2,850 \
\hline \text { Inventory-year-end } & \$ 1,500 \
\hline \text { Purchases } & \$ 1,950 \
\hline \text { Cost of Goods Sold } & \$ 2,400 \
\hline
\end{array}$$ Calculate the gross profit:

Question

The following information is available: $$\begin{array} { | l | l | } 
\hline \text { Sales } & \$ 2,850 \
\hline \text { Inventory-year-end } & \$ 1,500 \
\hline \text { Purchases } & \$ 1,950 \
\hline \text { Cost of Goods Sold } & \$ 2,400 \
\hline
\end{array}$$ Calculate the gross profit:

Quizplus · Accepted Answer

Gross profit is calculated as Sales minus Cost of Goods Sold. Therefore, $2,850 (Sales) - $2,400 (Cost of Goods Sold) = $450.

The Following Information Is Available Calculate the Gross Profit: A) $0

The Following Information Is Available Calculate the Gross Profit:
A) $0