What is the formula for cost of sales? Counting the beginning inventory plus purchases and subtracting the ending inventory equals the cost of sales. There are no general and administrative expenses ...
The prime cost equation is equal to the cost of raw materials ... serving that area are part of prime costs, including wages ...
The equation for working out gross profit: Revenue – Cost of sales = Gross profit Expenses (overheads) – these are the costs that do not change as production increases or decreases.
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