Calculate the cost of food consumed assuming the following: Beginning inventory $05,890
Net purchases $22,500
Transfers in $0,0870
Transfers out $0,0490
Ending inventory $05,010
Employee meals $0,0870
Promotional food cost $0,0440

Question

Quizplus · Accepted Answer

Cost of food consumed = Beginning inventory + Net purchases + Transfers in - Transfers out - Ending inventory - Employee meals - Promotional food cost
Cost of food consumed = $5,890 + $22,500 + $0.0870 - $0.0490 - $5,010 - $0.0870 - $0.0440
Cost of food consumed = $22,450

Calculate the Cost of Food Consumed Assuming the Following: Beginning