Before you begin one note on something you may not know. Marketing and promotions are handled carefully in food service.

Initially you account for the full sale, but at the end of the accounting period you only value the cost of the sale in calculating COGS and then putting in as an expense in marketing and promotions on the income statement.

$1.$ Calculate value of inventory

$2)$ Calculate cost of goods sold $($sales$)$

$3)$ Cost out each individual recipe

$4)$ Calculate food cost $\%$ for each recipe

$5)$ Complete the Menu Analysis worksheet

$6)$ Complete the profit and loss statement

$7)$ Calculate the Prime Costs and Prime Cost Percent