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Hello, would you please help to clarify?
Normally the cost of sales figure include the amount for carriage inwards, since it is added to purchases as a cost of purchase.
Why should we deduct this amount again to arrive at the gross profit?
Source:
ACCA
https://educationhub.accaglobal.com
F3 Practice test 3Question: Calculate gross profit
Answer by ACCA: 13,800 – 10,350 – 200 = 3,250
$’000
Revenue 13,800Cost of sales 10,350
Carriage inwards 200
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