*Gross profit and stock valuation Gross profit is shown in the income statement as a figure after deducting all the associated costs in producing your product or services from the sales that are called the gross profit. In another format, Gross profit= Sales- Cost of goods. After calculating the gross profit, […]
Accounting for inventory Learning about inventory is essential for any business that sells products because you need to buy to sell goods and have a count of the items you hold in your business; if not, you might run or overstock the goods. Inventory means that the goods are bought for […]