F! 0.0 / 5 ? BusinessFinanceBTEC NationalAQA Created by: PenMoonCreated on: 14-10-21 17:40 What is the formula for sales turnover? sales turnover=quantity times selling price 1 of 6 What is the formula for Costs of goods sold? Costs of goods sold = opening inventory (stock) + Purchases – Closing (stock) 2 of 6 What is the formula for gross profit? What is the formula for gross profit?Gross profit = Sales (revenue / turnover) - costs of sales (costs of goods sold) 3 of 6 What is the formula for net profit? Net profit = Gross profit – expenses. 4 of 6 What is the formula for straight line depreciation? straight line depreciation = historic value - residual(resale) value divided by expected life 5 of 6 What is the formula for reducing balance depreciation? asset value times annual percentage or asset value - depreciation value 6 of 6
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