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A restaurant has a food cost average of 38 percent. The inventory on August 31 is $11,000 and the inventory on September 30 is $11,965.
A restaurant has a food cost average of 38 percent. The inventory on August 31 is $11,000 and the inventory on September 30 is $11,965. The following are transactions for the month of September: $ Purchases Officers' checks Employee meals Transfer to bar Transfer from bar 36,000 925 at menu price 210 at standard cost 90 70 Compute the cost of food sold for the month of September if the periodic inventory system is used in the storeroom
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