Business calculation:  Unlike the previous year, many candidates’ performed well.  However, the following formulae should be noted:

• Net sales = Total Sales – Return inwards
• Cost of goods sold = Opening Stock + Purchases – Returns Outwards – Closing Stock
• Gross Profit = Turn Over – Cost of goods sold
• Net Profit = Gross profit – Total expenses
• Rate of Stock Turn = Cost of goods sold
                                                   Average Stock