Company X sells widgets. The following information summarizes the company's operating activities for the year: What is gross profit?
A)$15,500
B)$21,000
C)$17,000
D)$12,500

Name: Company X sells widgets. The following information summarizes the company's operating activities for the year: What is gross profit? A)$15,500 B)$21,000 C)$17,000 D)$12,500
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Question

Company X sells widgets. The following information summarizes the company's operating activities for the year:  What is gross profit?
A)$15,500 
B)$21,000 
C)$17,000 
D)$12,500

Quizplus · Accepted Answer

Gross profit = Revenue - Cost of goods sold
Gross profit = $38,000 - $21,000
Gross profit = $17,000

Company X Sells Widgets