calculate the gross profit for an item that cost the business $20 and sold for $80. gross profit = $?
calculate the gross profit for an item that cost the business $20 and sold for $80. gross profit = $?
Answer
Answer:
$60$
Explanation:
Step1: Identify formula
Gross Profit = Selling Price - Cost Price
Step2: Substitute values
Gross Profit = $80 - 20$
Step3: Calculate result
Gross Profit = $60$