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From an accounting and financial standpoint, a restaurant inventory is the dollar value of the food and beverage items that are held in storage. While
From an accounting and financial standpoint, a restaurant inventory is the dollar value of the food and beverage items that are held in storage. While in storage, the inventoried items are not considered a cost until used or sold. Just like cash, food and beverage inventory is a company asset. Respond to the following questions using between 3-5 sentences of explanation per bullet:
- How will an error in the physical inventory or inventory value affect an operations food cost percentage?
- What are ways to ensure an accurate inventory is prepared each period?
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