How can i calculate the GrossProfit in Bone?

Hi all,
   I want to know how the GrossProfit and Gross Profit % in BusinessOne. I created a quotation with two Items
     A00001 (Price - 700.00) and
     A00002(Price - 600).
And the gross profit i got is
     for A00001 - 350 and
         A00002 - 300.
How i got these values?
Is it based on the costprice of the items?
If so where can i find the CostPrice of particular item?
Thanks in advance.
RAMU.

Hi Madhavi,
Thank you for your reply.
I understand that gross proit is calculated based on ItemMaster Data. But how this has been calculate. I mean is there any formula?
    For Item A00001 the grossprofit i am getting is 350. Exactly half of the price.
     Is the CostPrice of A00001 is 350 ? or any other calculations are there?
    Can u tell me in detail that how this GrossProfit is calculating.
Thanks in advance,
RAMU.

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