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4. Using the below information, calculate food cost percentage and inventory turnover ratio: Beginning Inventory: $15,000 Ending Inventory: $5,000 Purchases: $7,000 Employee Meals: $1000 Food

4. Using the below information, calculate food cost percentage and inventory turnover ratio: Beginning Inventory: $15,000 Ending Inventory: $5,000 Purchases: $7,000 Employee Meals: $1000 Food Sales: $60,000

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