Practice 1: From the following information calculate Cost of goods sold and Gross profit Particulars Stock (01-01-2019) Purchases Purchases Returns Direct Wages Office Salaries Carriage Outwards Depreciation on assets Amount (OMR) 3,000 40,000 2,000 4,000 2,800 2,400 600 Office rent Stock (31-12-2019) 1,600 4,000 78,000 Sales 10