Accounting. With movements in stock, do I just take cost of sales away from sales and that's the gross profit

Question

Yea?

Ya know, like that it's extremely easy but the way my lecturer laid it out he made it look Way harder than an Einsteinian equation. NO kidding. Esh.

Answer 1

COGS = Beginning inventory + Purchases - Ending inventory

Sales - COGS = Gross Profit