Goods in Transit
Inventory that has been shipped by the seller but not yet received by the buyer. Depending on shipping terms (FOB shipping point or destination), the goods may still be recorded as inventory by the seller or buyer. These need special attention during inventory counts and audits.
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Gross Book Value
The original cost of a fixed asset before any depreciation is deducted. It reflects the purchase price and installation costs.…
Gross Sales
Gross sale is the total unadjusted sales revenue a business earns before returns, discounts, or allowances. It gives a top-line…
Gross Profit
Gross profit is the difference between revenue and the cost of goods sold (COGS). It shows how much money a…
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