What is the gross profit of the original bill


Question: What is the gross profit (GP) of the original bill? (Sale price less COGS = GP) Food: COGs is 30% therefore the remaining profit is 70% of the food cost (food cost X 0.7) Wine: COGs is 20% therefore the remaining profit is 80% of the drink cost (drink cost X 0.8) total bill is $125.60

 

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Accounting Basics: What is the gross profit of the original bill
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