Answer:
$133,000
Explanation:
We can find Pete's total contribution to GDP by adding up the following numbers:
$87,000 worth of pizzas - because finished goods are part of GDP
$39,000 paid to employees - because wages are part of GDP
$5,000 paid in taxes - taxes are part of GDP because they are government revenue
$2,000 of inventories at the end of year - end-of-year inventories are included in GDP
Therefore: $87,000 + $39,000 + $5,000 + $2,000 = $133,000
the $11,000 worth of ingredients are not included in GDP because GDP only accounts for finished goods and services.
Demand.
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Answer: d. $240,400
Explanation:
To calculate the Cost of Goods sold for the year we simply add the Opening Balance of Finished goods to the Cost of Goods for the year and then subtract the Finished goods balance at year end (ending).
That would be,
= 233,000 + 31,600 - 24,200
= $240,400
$240,400 is the Cost of Goods sold for the year so Option D is correct.
