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Gross Sales
Gross sale is the total unadjusted sales revenue a business earns before returns, discounts, or allowances. It gives a top-line figure of total activity but doesn’t reflect actual revenue received. Net sales are calculated by subtracting those adjustments from gross sales.
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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.…
Goods in Transit
Inventory that has been shipped by the seller but not yet received by the buyer. Depending on shipping terms (FOB…
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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