As we all know an inventory is a detailed record of all the stored goods or items business posses for a certain period of time. Inventory gives the status of costs to all the products or items stored in it. On the other hand
Cost Price is the price at which goods are bought by a merchant or retailer this price is cost price.
Gross Profit Analysis Based on the Previous Year’s Figures: As the basis for illustrating the gross profit analysis using the previous year’s figures, the following gross profit section of a company’s operating statements for 19A and 19B are presented. 19A 19B Changes Sales (net)