It depends on the fluctuation of the market. If you want to see the general profit for mountains use GE values (10 wood = 2 iron = 5 stone = gold).
For your example, you're right: it is better to produce and sell wood if you want the gold. But you gotta keep an eye on that market, the price for iron will rise constantly (unless you're in a realm with no online status, where prices tend to stabilize at low values
) while wood will remain ~1 gold, or even drop to its minimum...
At least I think it will be that way....