an item is sold for $8 that has a $3 cost of goods sold and 30% operating expense cost. use the formula…

an item is sold for $8 that has a $3 cost of goods sold and 30% operating expense cost. use the formula below to calculate the net profit.\nfirst, enter the sales price.\nnet profit = sales price - cogs - operating expenses\nnet profit = $? - $ - $

an item is sold for $8 that has a $3 cost of goods sold and 30% operating expense cost. use the formula below to calculate the net profit.\nfirst, enter the sales price.\nnet profit = sales price - cogs - operating expenses\nnet profit = $? - $ - $

Answer

Answer:

$3$

Explanation:

Step1: Calculate operating expenses

Operating expenses = Sales Price $\times30%=8\times0.3 = 2.4$

Step2: Calculate net - profit

Net Profit = Sales Price - COGS - Operating Expenses = $8 - 3-2.4=2.6$