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Yes, they would reduce the amount if purchases which is also in Cost of Goods Sold.

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14y ago

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Less sales return in trading Profit loss account?

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Inward and outward looking trade policies?

Inward looking means self sufficient i.e producing goods sufficient to their country less imports. outward looking means increase in exports.


Why did the cottage industry disappear?

manufactured goods cost less to make than handmade goods


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Revenue less Cost of Sales (or Cost of Goods Sold).


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