Chef Erin completes her inventory on Thursday evening and finds that she has $11, 500 in product on hand. Throughout the week, she purchases $500 in dry goods, $900 in dairy products, and 51000 in meat products. At the end of the week, she conducts inventory and finds that she has $10,000 in inventory left on hand. Please answer the following questions: What was the COST OF GOODS SOLD during this time period? SHOW YOUR MATH! If weekly Sales or Revenue is $12,895, please calculate the Food Cost Percentage for that time period. BE SURE TO SHOW YOUR WORK"
Chef Erin completes her inventory on Thursday evening and finds that she has $11, 500 in product on hand. Throughout the week, she purchases $500 in dry goods, $900 in dairy products, and 51000 in meat products. At the end of the week, she conducts inventory and finds that she has $10,000 in inventory left on hand. Please answer the following questions: What was the COST OF GOODS SOLD during this time period? SHOW YOUR MATH! If weekly Sales or Revenue is $12,895, please calculate the Food Cost Percentage for that time period. BE SURE TO SHOW YOUR WORK"
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Chef Erin completes her inventory on Thursday evening and finds that she has $11, 500 in product on hand. Throughout the week, she purchases $500 in dry goods, $900 in dairy products, and 51000 in meat products. At the end of the week, she conducts inventory and finds that she has $10,000 in inventory left on hand. Please answer the following questions: What was the COST OF GOODS SOLD during this time period? SHOW YOUR MATH! If weekly Sales or Revenue is $12,895, please calculate the Food Cost Percentage for that time period. BE SURE TO SHOW YOUR WORK"
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