Multiple Choice
A negative net present value (NPV) indicates that the:
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4. Merchandising Operations
Net Sales
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If Job 201 was sold for \$15,000 and the cost of goods sold for Job 201 was \$9,000, what is the gross profit on the sale of Job 201?
A
$24,000
B
$6,000
C
$9,000
D
$15,000
Verified step by step guidance1
Understand the concept of gross profit: Gross profit is calculated as the difference between the sales revenue and the cost of goods sold (COGS). It represents the profit earned before deducting operating expenses, taxes, and other costs.
Identify the sales revenue: From the problem, the sales revenue for Job 201 is given as $15,000.
Identify the cost of goods sold (COGS): The cost of goods sold for Job 201 is provided as $9,000.
Set up the formula for gross profit: Gross profit = Sales Revenue - Cost of Goods Sold. Using MathML, the formula can be expressed as:
Substitute the values into the formula: Replace 'Sales Revenue' with $15,000 and 'COGS' with $9,000 in the formula to calculate the gross profit.
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