Operating Statement Dollars Percent Gross sales Customer returns and allowances net sales 100% Opening Inventory at cost Purchases at cost Transportation charges Total goods handled at cost Closing Inventory Gross cost of goods sold Workroom charges Cash discounts earned Net cost of goods sold Gross Margin Direct Expenses Buying Salaries Selling salaries Dept Advertising Dept receiving expenses Total Direct Expenses Contribution Margin Indirect Expenses Allocated rent Allocated exec. Salaries Allocated utilities Allocated maintenance Total Indirect expenses Net profit (or loss) Operating Statement Dollars Percent Gross sales Customer returns and allowances net sales 100% Opening Inventory at cost Purchases at cost Transportation charges Total goods handled at cost Closing Inventory Gross cost of goods sold Workroom charges Cash discounts earned Net cost of goods sold Gross Margin Direct Expenses Buying Salaries Selling salaries Dept Advertising Dept receiving expenses Total Direct Expenses Contribution Margin Indirect Expenses Allocated rent Allocated exec. Salaries Allocated utilities Allocated maintenance Total Indirect expenses Net profit (or loss)