Question

crn 20605 angeles garcia question part 4 of 4 completed: 1 of 11 my score: 1.67/11 pts (15.15%) beavercreek company sold 14,000 jars of its organic honey in the most current year for $15 per jar. the company had paid $10.50 per jar of honey. (assume that sales returns are nonexistent.) calculate the following: 1. sales revenue 2. cost of goods sold 3. gross profit 1. calculate the sales revenue. sales revenue = $ 210,000 2. calculate the cost of goods sold. cost of goods sold = $ 147,000 3. calculate the gross profit. gross profit = blank box

Explanation:

Step1: Recall Gross Profit Formula

Gross profit is calculated as Sales Revenue minus Cost of Goods Sold (Gross Profit = Sales Revenue - Cost of Goods Sold).

Step2: Substitute Values

We know Sales Revenue is $210,000 and Cost of Goods Sold is $147,000. So, Gross Profit = $210,000 - $147,000.

Step3: Calculate the Result

$210,000 - $147,000 = $63,000.

Answer:

$63,000