Calculation of Gross Profit using Calculated Inventories of FIFO and AVCO

Calculation of Gross Profit (Perpetual):

To calculate gross profit (perpetual) and gross profit (periodic), we take calculated inventories of FIFO from First in First out Method page and AVCO inventories from Weighted Average Cost Method page.

Calculation of Gross Profit (Perpetual)

For three months ending 31 March 2015

Calculation of Gross Profit (Periodic)

For three months ending 31 March 2015