Given the following information, calculate the adjusted net cost of sales. $\begin{array}{lc}
\text { Beginning Inventory } & \$ 80,000 \
\text { Purchases } & \$ 40,000\
\text { Food Transfers } & \$ 1,000 \
\text { Employee Meals } & \$ 250 \
\text { Ending Inventory } & \$ 60,000
\end{array}$

Question

Quizplus · Accepted Answer

The adjusted net cost of sales is calculated as follows:Beginning Inventory + Purchases + Food Transfers + Employee Meals - Ending Inventory = Adjusted Net Cost of Sales$80,000 + $40,000 + $1,000 + $250 - $60,000 = $58,750

Given the Following Information, Calculate the Adjusted Net Cost of Sales