What is the value of inventory for the Beverage Item Bar Vodka Bar Scotch Bar Gin Storage Unit Col. 1 750 ml 750 ml 750 ml Beverage Inventory Cost Card (2 Workstations) Quantity Available Bottles Behind Bar Opened Col. 2 ¾ +¾ ¾+½ ¼+% Unopened Col. 3 3 2 2 In Central Storage Col. 4 5 4 6 Total Col. 5 Cost Per Storage Unit Col. 6 $8.45 $9.90 $8.70 information? Total Cost Col. 7

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question
Do problem 5
264 Chapter 7
What is the value of inventory for the following products, given the following information?
Beverage
Item
Bar Vodka
Bar Scotch
Bar Gin
Bar Rum
Item
Shrimp
Ground Beef
Veal Patty
Pork Chops
Storage
Unit
Item
Col. 1
750 ml
750 ml
750 ml
750 ml
Tomato Paste
Canned Peaches
Canned Green
Beans
Tomato Juice
Unit
lb
lb
each
8 oz
Beverage Inventory Cost Card (2 Workstations)
Quantity Available
Bottles Behind Bar
Opened
Col. 2
3+¾
3/4 + 1/2
¼+%
3/4+3/4
Problem 4
Problem 5
What is the inventory value of each of the following items at the end of the day? Assume
that (1) all items are "A" items, (2) leftovers are returned to central inventory at the end of
the workday, and (3) no products were received.
Cost/Unit
$7.35
$2.45
$1.12
$2.90
Begin Inventory
cs-6/#10
cs-6/#10
CS-6/#10
Unopened
Col. 3
3
2
2
3
cs-12/#303
Begin
Inventory
73 lb
60 lb
29 ea
51 chops
In Central
Storage
Col. 4
5
4
6
5
Amount
Issued
Problem
What is the total cost of food issue requisition, given the following?
$42.50
22 lb
10 lb
12 ea
15 chops
7 chops
Total
Col. 5
Unit Cost
$39.95
$28.40
$21.70
Amount
Used
18 lb
10 lb
10 ea
16 chops
Cost Per
Storage
Unit
7/12
Col. 6
$8.45
$9.90
$8.70
$7.40
No. Units Issued
1-5/6
2-4/6
3
Ending
Inventory
Total Cost
Col. 7
Cost
Total Cost
Transcribed Image Text:264 Chapter 7 What is the value of inventory for the following products, given the following information? Beverage Item Bar Vodka Bar Scotch Bar Gin Bar Rum Item Shrimp Ground Beef Veal Patty Pork Chops Storage Unit Item Col. 1 750 ml 750 ml 750 ml 750 ml Tomato Paste Canned Peaches Canned Green Beans Tomato Juice Unit lb lb each 8 oz Beverage Inventory Cost Card (2 Workstations) Quantity Available Bottles Behind Bar Opened Col. 2 3+¾ 3/4 + 1/2 ¼+% 3/4+3/4 Problem 4 Problem 5 What is the inventory value of each of the following items at the end of the day? Assume that (1) all items are "A" items, (2) leftovers are returned to central inventory at the end of the workday, and (3) no products were received. Cost/Unit $7.35 $2.45 $1.12 $2.90 Begin Inventory cs-6/#10 cs-6/#10 CS-6/#10 Unopened Col. 3 3 2 2 3 cs-12/#303 Begin Inventory 73 lb 60 lb 29 ea 51 chops In Central Storage Col. 4 5 4 6 5 Amount Issued Problem What is the total cost of food issue requisition, given the following? $42.50 22 lb 10 lb 12 ea 15 chops 7 chops Total Col. 5 Unit Cost $39.95 $28.40 $21.70 Amount Used 18 lb 10 lb 10 ea 16 chops Cost Per Storage Unit 7/12 Col. 6 $8.45 $9.90 $8.70 $7.40 No. Units Issued 1-5/6 2-4/6 3 Ending Inventory Total Cost Col. 7 Cost Total Cost
Expert Solution
Step 1

Ending inventory = Beginning inventory - amount issued - ending inventory

Cost = Ending inventory*cost/unit

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