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What relationship exists between cost of goods sold and gross profit?
Wiki User
∙ 12y ago
ask DR. Mohammed Khalid LOL
Wiki User
∙ 12y ago
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The difference between revenue from sales and cost of goods sold?
Difference between revenue from sales and cost of goods sold is called "Gross profit".
Why unrealized profit deducted from finished goods?
Unrealized profit is deducted because it is received but not yet earned means goods are not sold to outside customers and unless goods sold to end user or outside company customers, profit is not actually earned.
If total revenue is 3000 cost of goods is 1500 and total selling expense is 500 what is the profit?
Profit is the difference between your income (3000) and your expenses (1500 + 500) So add 1500 and 500, and subtract THAT from 3000. The answer is your profit- on which you will pay taxes.
What is a person who sells goods for profit?
Vendor / merchant
What is meaning of profit?
The term profit is loosely used, and it is hard to actually define profitability. One way to explain the meaning of profit would be to take the difference between the revenues from the goods sold and the cost of those goods. Example: You sell $100 worth of food that cost you $50 to get. Revenue = 100 Cost of goods = 50 = PROFIT = $50 I believe this is otherwise known as "Profit Margin" But businesses are faced with other expenses such as... the cost for a chef to make the food. Let's say it costs $20 Chef/Kitchen expense: $20 PROFIT AFTER ALL EXPENSES: $30 Profit after all expenses is better known as Net Income. As you can see, it is hard to actually distinguish what profit is... and I believe that the most agreed upon answer would be Revenue-COST OF GOODS and does not include any expenses afterwards such as kitchen expense.
The difference between revenue from sales and cost of goods sold?
Difference between revenue from sales and cost of goods sold is called "Gross profit".
What called The difference between net sales and cost of goods sold divided by net sales?
1. Net sales - cost of goods sold = Gross profit Gross profit / Net sales = Gross profit ratio
What is the relationship between income and luxury goods?
higher income, more luxery goods. not rocket science.
What is the relationship between producers and consumers in economics?
Producers make the goods and consumers buy and use the goods.
How were the Phoenicians middlemen?
They moved from trading their own limited goods to the carriage trade - moving other peoples' goods between them and taking a profit from it.
What is the relationship between boycott and repeal?
A boycott is to refuse to purchase certain goods or service, and a repeal is to cancel a law. That is a relationship between the two.
What is the relationship between the timing of your goals and the type of goods or service you want?
bacon
What is the relationship between exports and imports?
they both have to do with bringing and taking out goods for a country
What represents the profits from revenues after deducting only the cost of goods sold?
After only deducting cost of goods sold from revenues is the Gross profit which is the difference between revenues and cost of goods sold.
What is the relationship between investment in capital goods and GDP?
they both have the same influential factors
What does gross profit include?
* + Net Sales * - Cost of Goods Sold (Expenses directly related to the goods that were sold) * ----------------------------------------------- * = Gross Profit
What is your past experience with sales?
sales is the process of selling goods in any how by the motive of profit there is a difference between sales and marketing
