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On the income statement, it is shown that Sales revenue less Cost of goods sold equals Gross profit, and when the following is considered, it seems that sales revenue equals net sales in financial accounting:
"GROSS PROFIT(OR GROSS MARGIN) is net sales less cost of goods sold."
Is my reasoning correct in all cases? Or are there any exceptions?
"GROSS PROFIT(OR GROSS MARGIN) is net sales less cost of goods sold."
Is my reasoning correct in all cases? Or are there any exceptions?
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