ANSWER: To calculate the gross profit for the month of August, Gibson will have to find out the sales in his company. Gibson had a opening stock of 200 units of products valuing $8 per unit. The total value of the stock available at the opening of the month is $8 x 200 units = $1,600. If he uses the average cost method to calculate the inventory cost, he will need the opening stock and the production done in the month of August. This will give him the figure which will show his entire stock which were available for sale in the month.
Let's assume the entire stock produced in the month of August to be 'x', so the total stock available for sale was '$1,600+x'. This amount needs to be subtracted by the closing stock of the month to get the actual value of sales that has happened during the month of August. So, dividing the actual value of sales by the production cost of the sold number of units will give Gibson the gross profit for the month of August.
To calculate gross profit using the average cost method, the average unit cost is calculated when more units are purchased. To work out the cost of goods sold (COGS), this average unit cost is multiplied by the number of units sold. Subtracting COGS from the total revenue gives the gross profit.
It is not possible to provide a precise answer without more details, as the gross profit depends on revenue and cost data that is not provided in the question. However, it is possible to explain the process of determining the gross profit when the company uses the average cost method. First, compute the total inventory cost by multiplying the beginning inventory units by their unit cost. The average unit cost is calculated whenever more units are purchased, by dividing the total cost of all units by the total number of units. Each time a sale occurs, the cost of goods sold (COGS) is computed by multiplying the number of units sold by the average unit cost.
To get gross profit, subtract the cost of goods sold (COGS) from total revenue. The total revenue is the product of the selling price per unit and the number of units sold. Once that is found, it is possible to subtract the cost of goods sold (COGS) from the revenue to identify the gross profit.
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Money invested in a business by either the owner or investors is called capital.
Capital is the term used to describe an investment into a company from an owner or shareholder. The term capital account is often used to keep track of investments into a company.
Answer: software
Explanation: because that is what i picked for the last test i had and they said it was correct. now if its wrong they most likely did the test wrong in some type of way or fashion. or there are more answers for the same question. so sorry if its wrong!!!!!
In the context of trademarks, items such as an advertising slogan, a song, software, and a movie can be covered by trademark. However, a formula for a new medication would not be covered by trademark.
In the context of trademarks, the following items would be covered:
However, a formula for a new medication would not be covered by trademark. Instead, formulas for medications are typically protected by patents.
Learn more about trademark coverage here:
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$867,832
Market value of firm =
$819,000 building price
+ 65,000 plus current value of fixtures
+ 1.1($319,000) plus retail value of inventory
+ .96($21,700) plus collectable portion of AR
+ 26,800 plus cash
- 414,700 minus debt
= $867,832
B) China
C) United States
D) Russia