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If the amount of net sales is rm23,000, net purchase rm10,000 and the cost of goods sold is rm2450, determine the amount of gross profit or loss

Respuesta :

As per the given information, the gross profit is needed to be determined. So, the amount of gross profit is RM20,550.

What is the gross profit?

The profit a company gets after deducting or reducing all costs associated with creating and selling its services or products is known as gross profit.

[tex]\text{Gross profit} = \text{Net Sales} - \text{Cost of goods sold}\\\text{Gross profit} = 23,000 - 2,540\\\text{Gross profit} =20,550[/tex]

Therefore, the gross profit is RM20,550

Check out the link below to learn more about gross profit;

https://brainly.com/question/18567528

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