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Yeah, a business does have a level of freedom to decide what is included in gross profit, in retail it’s pretty well accepted that gross profit is just revenue minus the cost of goods sold.But, it can get pretty blurry in a business like a movie studio for example. But you can generally find all the answers you need in the notes to the financial statements.
Yeah, a business does have a level of freedom to decide what is included in gross profit, in retail it’s pretty well accepted that gross profit is just revenue minus the cost of goods sold.
But, it can get pretty blurry in a business like a movie studio for example. But you can generally find all the answers you need in the notes to the financial statements.
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