For future reference this is probably not the right code to use - normally you’d use a purchases (5xxx) code to record purchases of goods for resale, and the 1001 “stock” code only when doing your year-end stocktake. There are other posts on here explaining the process in more detail, e.g. Profit and Loss - Stock - #2 by ian_roberts. I always just used “general purchases” but if you need to separate stock-for-resale from your other cost-of-sales purchases then you could create a new “goods for sale” code in the 5xxx range and use that instead.
1001 is a balance sheet code, so any purchases you code to this would not show up as expenses in your P&L - each time you make a sale you would have to manually journal the cost price of whatever you sold over to a 5xxx code to get the correct value for gross profit.