The Purple Rose Restaurant has the following food cost information for a given month. Food inventory, March
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Question:
The Purple Rose Restaurant has the following food cost information for a given month.
Food inventory, March 1 $2,450
Food inventory, March 31 $1,600
Food purchases, March $ 8,900
Employee meals cost $ 210
Promotional meals cost $ 290
Calculate cost of sales food, and net cost of sales (3 points) using the following format:
Beginning inventory | $x,xxx |
|
Purchases | x,xxx |
|
Goods available |
| $ xx,xxx |
Less: Ending inventory |
| ( x,xxx) |
Cost of sales (food) |
| $ x,xxx |
Less: Employee meals | xxx |
|
Less: Promotional meals | Xxx | ( xxx) |
Cost of sales (net) |
| $ x,xxx |
Posted Date: