Question

How do you calculate gross profit?(1 point) Responses total all revenue and subtract COGS, SG&A, and income taxes total all revenue and subtract COGS, SG&A, and income taxes total all revenue and subtract income taxes total all revenue and subtract income taxes add up all revenue and subtract the cost of goods sold add up all revenue and subtract the cost of goods sold add up all sales made for the period

Answer 1

To calculate gross profit, you need to add up all revenue and subtract the cost of goods sold (COGS). The correct response is:

add up all revenue and subtract the cost of goods sold.