How do you calculate gross profit?(1 point)

Question

How do you calculate gross profit?(1 point)

Responses

add up all sales made for the period
add up all sales made for the period

add up all revenue and subtract the cost of goods sold
add up all revenue and subtract the cost of goods sold

total all revenue and subtract COGS, SG&A, and income taxes
total all revenue and subtract COGS, SG&A, and income taxes

total all revenue and subtract income taxes
total all revenue and subtract income taxes

Answer 1

The correct answer is: add up all revenue and subtract the cost of goods sold.

Answer 2

How do you calculate gross profit?(1 point)

The correct answer is: add up all revenue and subtract the cost of goods sold.

To calculate gross profit, you need to add up all the revenue and subtract the cost of goods sold (COGS).