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Gross profit method

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Amandeep Singh

Amandeep Singh (Querist)
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03 September 2019 Dear Sir

Please guide to me about gross profit method

how to calculate.

i am not asking for formula

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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03 September 2019 Gross profit = Sales minus Cost of Goods sold

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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03 September 2019 cost of goods sold is material plus all the direct expense including labour and other direct overheads

Amol S Joglekar

Amol S Joglekar (Expert)
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04 September 2019 where do you want to use gross profit method?

Amandeep Singh

Amandeep Singh (Querist)
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05 September 2019 Sir,
We have have business of Marble Cut piece. i want to use there. Coule you guide to me how much GP we needs to show in books of account

Amol S Joglekar

Amol S Joglekar (Expert)
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05 September 2019 it should be shown at actuals.

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