Answer:
Total output is the same as total revenue
Marginal product is the same as marginal revenue
Average product is the same as average revenue
And the formulaes used is written above the box
excuse me for the bad handwritting
plus marginal revenue is obtained in the change of total revenue hope am write....
Answer:
2020
Inventory TO 2.2
Days on Inventory 166
Gross profit margin: 42.8%
2021
Inventory TO 2.1
Days on Inventory 174
Gross profit margin: 35.6%
Explanation:
Inventory $570,000 $580,000 $330,000
Net sales 1,875,000 1,750,000 1,350,000
Cost of goods sold 1,207,500 1,001,000 939,000
2020:
where:
COGS 1,001,000
beginning 330,000
ending 580,000
Inventory 455000
Inventory TO 2.2
Days on Inventory 166
Gross profit margin:
sales less COGS divided over sales:
(1,750,000 - 1,001,000) / 1,750,000 = 0.428 = 42.8
2021
where:
COGS 1,207,500
beginning 580,000
ending 570,000
Inventory 575000
Inventory TO 2.1
Days on Inventory 174
Gross profit margin:
sales less COGS divided over sales:
(1,875,000 - 1,207,500) / 1,875,000 = 0,356 = 35.6%