Which of the following is subtracted from Net sales revenue to arrive at Gross profit?
A)Cost of sales
B)Sales discounts and Sales returns and allowances
C)Operating expenses
D)Cost of goods available for sale

Question

Quizplus · Accepted Answer

Cost of sales, also known as cost of goods sold, is the cost of the products that were sold during a given period. It is subtracted from net sales revenue to arrive at gross profit.

Which of the Following Is Subtracted from Net Sales Revenue