Answer:
$320,000
Explanation:
As we know
Costs of goods sold = Sales - gross profit
where,
Gross profit ratio = 40%
And the cost of goods sold ratio is 60%
Plus the cost of goods sold is $480,000
We assume the sale is 100%
By applying the unitary method, the gross profit would be
=Cost of goods sold ÷ cost of goods sold ratio × Gross profit ratio
= $480,000 ÷ 60% × 40%
= $320,000
