1) How do you calculate sales revenue? a) Opening inventory add purchases minus closing inventory b) Selling price x amount sold c) Selling price plus amount sold 2) How do you calculate cost of sales? a) Opening inventory plus closing inventory b) Closing inventory plus purchases c) opening inventory plus purchases minus closing inventory d) Opening inventory minus purchases add closing inventory 3) How do you calculate gross profit? a) Sales + COS b) Sales - COS c) Sales - Closing Inventory 4) How can I increase sales revenue? a) advertising b) economies of scale 5) How can I increase gross profit a) Decrease sales revenue b) Increase sales revenue c) Increase cost of sales d) decrease cost of sales

Income statement

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