Page 99 - Spring Into Markets

Guide 14 Simple Profit and Loss
What is cost of goods?
Cost of goods (or wholesale prices) refers to the amount of money that a trader has to spend buying the goods from their wholesalers, manufacturers, suppliers or distributors. It is very important that a trader knows how much has been spent, so that he/she can manage the business successfully.
What is retail sales?
Retail sales is the total amount of money that a trader’s stall takes (via cash, cheque, credit/debit card) over a given amount of time.
Try not to confuse retail sales with stock turn (turnover).
Guide 14 Simple Profit and Loss 99