Determine which of the definitions below describes gross profit.

O The amount of money received on the sale of goods The difference between net sales and the cost of the goods sold O The total money paid by the merchandiser to its supplier including freight costs The original cost of the merchandise when purchased from the supplier Need help? Review these concept resources. Read About the Concept HD Rate your confidence to submit your answer. 2022 McGraw Hill All Rights Reserved Pivacy Terms of Use a 61F LIE O