Calculate the cost per meal using the following information:
Value of January inventory = $24,850
Value of February inventory = $22,730
Cost of foods purchased during January = $43,575
Number of meals served during January = 96,400
A)39 cents
B)47 cents
C)72 cents
D)85 cents

Question

Quizplus · Accepted Answer

The cost per meal is 47 cents, as calculated below:
January inventory - February inventory) +Cost of foods purchased =
Number of meals served during January
($24,850-$22,730) + $43,575 = 0.47 = 47 cents per meal
96,400

Calculate the Cost Per Meal Using the Following Information