ENTREPRENEURSHIP

Detailed explanation-1: -What is gross profit? Gross profit is the profit a business makes after subtracting all the costs that are related to manufacturing and selling its products or services. You can calculate gross profit by deducting the cost of goods sold (COGS) from your total sales.

Detailed explanation-2: -Gross profit measures the money your goods or services earned after subtracting the total costs to produce and sell them. The formula to calculate gross profit is the total revenue minus the cost of goods sold.

Detailed explanation-3: -Gross profit is revenue minus the cost of goods sold (COGS), which are the direct costs attributable to the production of the goods sold in a company. This amount includes the cost of the materials used in creating a company’s products along with the direct labor costs used to produce them.

Detailed explanation-4: -Gross profit is the difference between a company’s total revenue and its total cost of goods sold, which is calculated by subtracting the cost of goods sold from the total revenue. It is also referred to as gross margin or gross income.