calculate the gross profit for an item that cost the business $36 and sold for $80. gross profit = $?
calculate the gross profit for an item that cost the business $36 and sold for $80. gross profit = $?
Answer
Explanation:
Step1: Recall gross - profit formula
Gross Profit = Selling Price - Cost Price
Step2: Substitute values
Selling Price = $80$, Cost Price = $36$. So, Gross Profit = $80 - 36$
Step3: Calculate result
$80-36 = 44$
Answer:
$44$