To achieve a gross profit, an item's COGS should always be less than the sales price.

Name: To achieve a gross profit, an item's COGS should always be less than the sales price.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Gross profit is the difference between the sales price of an item and its cost of goods sold (COGS). Therefore, for a business to achieve a gross profit, the sales price must be higher than the COGS. In other words, the COGS should always be less than the sales price.

To Achieve a Gross Profit, an Item's COGS Should Always