Question

Last month, Leonhard Euler's Watch kiosk at the mall had total sales of $9,489. Merchandise totaling $225 was returned. The goods that were sold cost Leonhard Euler's $5,481. Operating expenses for the moth were $992. What was the gross profit on sales?

Answer 1

Answer: Total gross profit is $ 2791

Explanation:

Since, the total revenue by sales = $ 9,489,

Total returned = $ 225

Cost of goods = $ 5481,

And, Operating expenses = $ 992

Thus, the gross profit = Total revenue - direct costs of producing that good or service = 9489 - ( 225 + 5481 + 992) = $ 2791

Therefore, there was a gross profit of $ 2791 on the sale.