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Sales less cost of sales =?

1. Purchases

 

2. Operating Profit

 

3. Gross Profit

 

4. Net Profit

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Question added by Zehab Osman , Accountant , Aldar Consultancy Co.
Date Posted: 2015/08/10
Md. Moshiur Rahman Sumon
by Md. Moshiur Rahman Sumon , Assistant General Manager( Corporate Finance & Head of Internal Audit) , Progressive Life Insurance Company Limited

3. Gross profit is the perfect answer in this case .

Imdad Hussain Rajput
by Imdad Hussain Rajput , Assistant Sales Manager , Forego

Gross Profit............................

Ansary Masacal, CPA
by Ansary Masacal, CPA , State Auditor II , Commission On Audit

The answer is Gross Profit..

Sreeraj V S
by Sreeraj V S , Accountant , Airblast Middle East LLC

Sales - Cost of sales(cost of goods sold) = Gross profit

roheel kashif
by roheel kashif , Manager Accounts , Silver Star Insurance Company Limited

Gross Profit: Initial profit before general business expenses.

Shahbaz Hayder
by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Option3 is the right answer.

Ahmed Abdi Mahad
by Ahmed Abdi Mahad , Director of Internal Auditing Directorate , Jigjiga University

Sales less cost of sales is equal to gross profit. Thus, choice #3 is the answer

   

Waqar Latif Butt
by Waqar Latif Butt , Auditing & Business Development , IBC (Sweden - Pakistan)

3. Gross ProfitGross Profit is calculated by deducting cost of sales from sales amount, though it contains overheads and other expenses to be deducted.

Mohsin Patel
by Mohsin Patel , Accounting Analyst , Water G.

Gross Profit = Sales- COGS

Deleted user
by Deleted user

3. Gross Profit .................................................................................

Asad Ahmed
by Asad Ahmed , Manager Finance & Company Secretary , Connect Communications Pvt. Ltd.

Sales less Cost of Sales = Gross Profit