Source: http://www.accountz.com/glossary.html#c Definition: A formula for working out the direct costs of your sales (including stock) over a particular period. The result represents the gross profit. The formula is: Opening stock + purchases + direct expenses - closing stock. Also, see Cost of Goods Sold. Source: http://www.ventureline.com/glossary_C.asp Definition: see COST OF GOODS SOLD.