Answer
--Statement is TRUE.
--Gross Profits = Sales - Cost of Goods Sold
= $ 374000 - 212000
= $ 162,000
The company has sales of 374000 and cost of good sold is 212000 it's gross profit...
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cushman Company had 842,000 in net sales 368,375 in gross profit and 210,500 and operating expenses cost of good sold equals
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Gross Profit margin = Gross Profit / Total Revenue, Gross Profit = Sales - Cost of Goods Sold. Operating Profit = Operating Revenue - Cost of Goods Sold (COGS) - Operating Expenses - Depreciation - Amortization. However, for a hospital, there is no "Cost of Goods Sold", so how to calculate Gross Profit margin and Operating Profit ?