• 2022-05-27
    Gross profit for 20X3 can be calculated from:
    A: Purchases for 20X3, plus inventory at 31 December 20X3, less inventory at 1 January 20X3
    B: Purchases for 20X3, less inventory at 31 December 20X3, plus inventory at 1 January 20X3
    C: Cost of goods sold during 20X3, plus sales during 20X3
    D: Net profit for 20X3, plus expenses for 20X3