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Answer Posted / kanchan
Gross proit =(opening stock + purchase+ diredt expenses-
purchase return) - (sales + closing stock+ ditect income)-
sales retun
gross profit is excess of the trading a/c debit side
Groos profit a/c dr.
To Trading a/c cr.
(being gross Profit)
Gorss proit is (sales- Cost of Goods Sold)
it carry forward to profit & loss a/c
all indirect expenses deducet in profit & loss a/c in which
gross proit and add indiredt income then calculating in
net profit
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