Saturday, 09 July 2022 13:02

Gross Profit Report

What is gross profit report?

Gross profit is the profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services. 

 

 

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How does the system calculate costs?

The costing method used by the system is:Moving Weighted Average Cost Method 

In order to better understand this cost calculation method, we give an example:

Under the perpetual inventory system, we would determine the average before the sale of units.
Therefore, before the sale of 100 units on 2022-2-28, our average would be:

 

 

 

 

Before the sale of 70 units on 2022-3-27, our average would be:

 

 

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