(Answered) Question - in a merchandising company cost of goods sold is

Accounting

Question - In a merchandising company, cost of goods sold is normally the largest expense a company may have. Gross profit is the amount a company has left after it deducts the cost of its merchandise sold from the sales revenue. It is the gross profit that is left to cover the operating expenses of the business. Why is it important for a company to know what its gross profit is? What business decisions can be made using this information?

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