1. Determine Cost of Food Issued, Cost of Food Consumed and Cost of Food Sold from the following data: (Note: Slide #29 Determining Cost of Food Sold from Chapter 8 will help you.)

Opening Inventory $7414.80

Food Purchases 17,642.80

Beverage to food transfer 443.00

Food to beverage transfer 226.00

Employee meals 837.00

Analyze the following table: what can you say about the results for this month?

Food Cost Report
Date	Food Costs	Food Sales	Food Cost Percentage
This month	$8000	$32 000	25.0%
Previous month	$8500	$30 000	28.3%
Same month last year	$9500	$31 000	30.6%