Find the cost of goods sold, gross profit and net profit?

Question

The sales of Roland's Enterprise were 116789
.28. The inventory at the beginning of the year was 48024.65. Purchases amounted to 39403.76;operating expenses 26792.48 and ending inventory amounted to 12536.18

Answer 1

I think cost of goods sold is = beginning inventory + purchases - ending inventory.

Then, gross profit is = sales - cost of goods sold.

Then, net profit is = gross profit - operating expenses.

Answer 2

Profit = Revenue - Expenses - Cost of Goods Sold

Answer 3

The first answer is perfect. :-)