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3. 60st Organic Fresh Fruit (GOFF) Ian Goff owns and manages a fresh fruits and vegetable store (GOFF Goff's Organic Fresh Fruits) in a small
3. 60st Organic Fresh Fruit (GOFF) Ian Goff owns and manages a fresh fruits and vegetable store (GOFF Goff's Organic Fresh Fruits) in a small town in California, USA. Each morning, he drives his delivery van to an out-oftown wholesale market to buy fresh, organic fruits and vegetables. During peak seasons , Ian Goff employs two people to help him at the store for which he pays $1200 rent to his landlady each month. In addition, Ian Goff has to pay for the loan on his one-year old vehicle plus other running costs such as power and lighting. a) Dene the meaning of wholesale market. (2 marks) b) Outline two other indirect costs that GOFF might have to pay. (4 marks) c) GOFF buys its tomatoes at $0.80 per kilo. Calculate the monthly cost, revenue and profit when it buys 50kg of tomatoes and sells them at $1.20 per kg. (3 marks) d) GOFF bought 100kg of apples this month and managed to sell 80kg of apple at the usual price of $2 per kg. To get rid of excess supply, GOFF reduced the price of the remaining stock to $1.5 per kg. Calculate the revenue from the sale of apples if Goff manages to sell all of its apples. (2 marks)
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