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Marizza181 [45]
3 years ago
6

Gibson company began august with 200 units of product br having a unit cost of $8 in inventory. relevant information is listed a

s follows: if gibson company uses the average cost method inventory cost flow assumption, what amount will it report as gross profit for august?
Business
1 answer:
In-s [12.5K]3 years ago
7 0

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.

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Answer:

$31,500

Explanation:

On November 1, 2019, Kate leased out a buliding for $4,500 per month.

On the same day( November 1, 2019) she received seven months payment for the building. Which means she received $31,500 (4,500* 7 months).

Accural taxpayers must be able to include all amount they are to receive for payments of services, once they earn it.

Since Kate is an accural taxpayer, and she receive the $31,500 payment on November 1, 2019, she must include the whole $31,500 on her 2019 tax return as a result of this transaction.

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True or false: The initial result of the Hawthorne studies demonstrated that no matter what the levels of light and noise were,
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Answer: True

Explanation:

The Hawthorne studies were designed originally in order to show the relationship that existed between productivity and the workplace conditions.

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"ABC Company knew that its customers were interested in environmentally friendly business practices, so it began marking all of
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b. Greenwashing

Explanation:

Greenwashing refers to misleading customers by portraying fake compliance with environmental laws by a company. In such cases the company at fault showcases it's products as environmental friendly, made using natural ingredients which actually is not the case.

Misleading refers to employing fraudulent practices intended to deceive the customers with an intention to increase the sales volume.

In the given case, the company in question labelled it's products as environmental friendly despite knowing such is not the case as the facts suggest otherwise.

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The number of compounding periods in one year is called compounding frequency. The compounding frequency affects both the presen
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1. a. 4.081%

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1. Periodic rate=(4.4%/4) = 1.1%

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= (1+0.044/4)^4-1

= 1.011^4 - 1

= 1.04473133864 - 1

= 0.04473133864

= 4.47%

EAR=(1+APR/m)^m-1

where m=compounding periods

=(1+0.04/365)^365-1

= (1+0.00010958904)^365 - 1

= 1.00010958904^365 - 1

= 1.04080849272 - 1

= 0.04080849272

= 4.081%

2. A=P(1+r/365)^365*n

where  A=future value, P=present value, r=rate of interest, n=time period.

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