This can include things like income tax, interest expense, interest income, and gains or losses from sales of fixed assets. Revenue is the total amount earned from sales for a particular period, such as one quarter. Revenue is sometimes listed as net sales because it may include discounts and deductions from returned or damaged merchandise. For example, companies in […]
Monthly Archives: January 2020
FIFO will report higher gross profit and net income when the assumption is made that the products that make up COGS are lesser in value since they were purchased in the past. Net profits is one of the most basic measurements in accounting and finance. Obviously, higher profits are almost always preferable to lower profits. […]