Gross profit is equal to _______________.

Net profit minus expenses

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Purchases plus stock minus net sales

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Net sales plus selling price of stock minus purchases

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Net sales minus cost price of sales

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Solution

The correct option is D Net sales minus cost price of sales
Gross profit is equal to net sales minus cost of goods sold. Net sales are equal to total gross sales less returns inwards and discount allowed. The information about gross profit and net sales is normally available from income statement of the company.

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