Final answer:
Gross profit is the financial information obtained by subtracting cost of goods sold from total sales in a given period.
Step-by-step explanation:
The financial information obtained by subtracting cost of goods sold from total sales in a given period is called Gross profit. Gross profit is the difference between the revenue generated from selling goods and the direct costs of producing those goods. It represents the profit a company makes before deducting operating expenses and taxes.