calculate the gross profit for an item that cost the business $12 and sold for $15. gross profit = $?
calculate the gross profit for an item that cost the business $12 and sold for $15. gross profit = $?
Answer
Explanation:
Step1: Recall profit formula
Gross Profit = Selling Price - Cost Price
Step2: Substitute values
Selling Price = $15$, Cost Price = $12$. So, Gross Profit = $15 - 12$
Step3: Calculate result
$15-12 = 3$
Answer:
$3$