How to Calculate Gross Profit

What is gross profit and how do you calculate it? Gross profit is your revenue minus the cost of providing the goods or services sold. Revenue is the money you made from selling products or services. Costs of providing the goods sold, known as COGS, is what it costs you to provide those goods or services. So to calculate gross profit it’s just your Revenue minus your COGS.
Gross Profit = Revenue - Costs of Goods Sold
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These videos are intended as a general guide only. Please consider what is best for your business. If you require further information specific to your business needs, please speak to your professional advisor/s