TeachMeFinance.com - explain gross profit
gross profit -- Sales minus Cost of Goods Sold. The total
dollars available to cover general and administrative expenses
such as utilities, advertising, rent, etc.
gross profits -- The difference between the cost price and the selling price of goods after taking into consideration the stocks at the commencement or end of the period. In the case of manufacturing, the cost price of material, together with the wages and other charges necessarily incurred in producing the goods, represents their cost.
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