Problem1 (5 points)

The following data is for the month of June 20X3 for the Fairbanks Hotel:

Beginning Inventory Purchases Ending Inventory Employee Meals-Room Department Employee Meals-Food &Beverage Department

$28,300 16,200 29,500 300 500

Required: Calculate the cost of food used and the cost of food sold for the Fairbanks Hotel for the month of June.