Use this accounting resource to improve your accounting knowledge and bookkeeping understanding. All of these accounting terms have been reviewed and are written so they can be understood for a wide range of accountants, bookkeeppers, cpas professionals.
Please pick a letter to proceed to the terms associated with that letter.
Gross profit or gross margin is net sales minus cost of sales or cost of goods sold. For example, if net sales were $400,000 and cost of sales were $300,000, gross profit would be $100,000. Gross margin of profit measures the ability of both to control costs and to pass along price increases through sales to customers. Gross margins vary with the type of business. For example a restaurant and bar would have a greater gross margin than a discount chain, like Wal-Mart, that depends upon volume to make money.
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