What kinds of costs are paid from Gross Profit?
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The profit a firm makes after deducting the costs of producing and selling its products, or the costs of delivering its services, is known as gross profit. Gross profit is computed by subtracting the cost of goods sold (COGS) from revenue on a company’s income statement (sales). On a company’s income statement, these data can be found. Gross profit is also known as gross income or sales profit.