Prices on jackets essentially covered by edge of scarf (5)
I believe the answer is:
costs
'prices' is the definition.
('cost' can be a synonym of 'price')
'jackets essentially covered by edge of scarf' is the wordplay.
'jackets' becomes 'peacoats' (peacoat is a kind of jacket).
'essentially' means to look at the middle letters.
'covered by edge of scarf' becomes 'sts' (I can't explain this - if you can you should believe this answer much more).
The middle letters of 'peacoats' are 'co'.
'co'+'sts'='COSTS'
'on' acts as a link.
Can you help me to learn more?
(Other definitions for costs that I've seen before include "Expenditures, outlays" , "Is priced at" , "Fees" , "Charges" , "Overheads" .)