Accounting - Net Sales and Cost of Sales on the Income Statement?

Question

I'm trying to come up with a gross profit % for a well-known furniture retailer, and the Net Sales figure is listed over the Cost of Sales, which, in my understanding, is the same as Cost of Goods Sold. I'm confused. I thought Gross Sales - COGS = Net Sales. How can I get my Gross Sales number?

Answer 1

Sales-COGS=GP (gross profit), which is not net sales. your net sales are your gross sales-cost of sales.

your GP margin is calculated by: GP/total revenue.

hope that helped.

Answer 2

Gross sales = net sales + COS

COGS is not the same as COS