Answer:
COGS= $598,020
Explanation:
Giving the following information:
Kevin owns a retail store, and during the current year, he purchased $610,000 worth of inventory. Kevin's beginning inventory was $67,000, and his ending inventory is $77,200. During the year, Kevin withdrew $1,780 in inventory for his personal use.
We need to deduct the inventory used for personal use.
To calculate the cost of goods sold, we need to use the following formula:
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
COGS= 67,000 + 610,000 - 77,200 - 1,780
COGS= $598,020
If the price of jelly decreases, the demand for peanut butter, a complementary good to jelly, will increase. The increase in the demand for peanut butter will cause the price of peanut butter to rise.
Peanut butter is a food paste or spread crafted from ground, dry-roasted peanuts. It typically consists of extra components that alter the flavor or texture, which include salt, sweeteners, or emulsifiers. Peanut butter is fed on in many countries. The USA is the main exporter of peanut butter and one of the most important clients of peanut butter annually in step per capita. January 24 is National Peanut Butter Day inside the u.S.. Peanut butter is a nutrient-rich food containing high levels of protein, numerous vitamins, and nutritional minerals. Its miles typically served as diffusion on bread, toast, or crackers, and used to make sandwiches (extensively the peanut butter and jelly sandwich). It's also used in some breakfast dishes and desserts, inclusive of granola, smoothies, crepes, cookies, brownies, or croissants. It's far much like other nut butter such as cashew butter and almond butter.
Learn more about peanut butter here
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Answer:
Third-degree price discrimination.
Explanation:
Third-degree price discrimination is when a seller charges different prices to different groups of people. This price discrimination can be based on age , occupation, sex eye
First degree price discrimination is when a sellers charges different prices to consumers based on their willingness to pay. This type of discrimination aims to eliminate consumer surplus.
Second degree price discrimination is when a sellers gives discounts for different quantities purchased. E.g. bulk purchases.
I hope my answer helps you
Global trade provides consumers with MORE OPTION AND LOWER PRICES.
Explanation:
Global trade provides consumers the opportunity to be exposed to goods and services not available in their home countries. Products that are sold within an international trading market are considered exports, while those purchased from the global trade market are labeled as imports.
It is thought that Global trade provides consumers with a great variety of goods and more options delivered at lower prices. Global trade allows countries to exchange goods and resources. Some countries specialise in producing some goods, while other countries specialise in producing other goods. By doing so, there are lower opportunity prices for consumers and a greater choice of goods.
Answer:
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