calculate the gross profit for an item that cost the business $32 and sold for $40. gross profit = $?
calculate the gross profit for an item that cost the business $32 and sold for $40. gross profit = $?
Answer
Explanation:
Step1: Recall gross - profit formula
Gross profit = Selling price - Cost price
Step2: Substitute values
Gross profit = $40 - 32$
Step3: Calculate result
Gross profit = $8$
Answer:
$8$