calculate the gross profit for an item that cost the business $12 and sold for $40. gross profit = $?
calculate the gross profit for an item that cost the business $12 and sold for $40. gross profit = $?
Answer
Answer:
$28$
Explanation:
Step1: Recall profit formula
Gross Profit = Selling Price - Cost Price
Step2: Substitute values
Gross Profit = $40 - 12$
Step3: Calculate result
Gross Profit = $28$