The operating revenue remaining after deducting cost of merchandise sold is known as gross profit.
What is a gross profit?
Gross profit refers to the amount remaining after deducting all the expenses involve in production, transportation and promotion of goods.This is total profit a business is gained.
The gross profit is calculated by subtracting cost of goods sold from total sales where cost of goods sold includes all cost for selling an item.For example raw material, labour, storage costs and so on.
Learn more about gross profit, here:
https://brainly.com/question/14988657
#SPJ1
