Author Question: An operation had adjusted food cost of $10,800 in an accounting period. Revenue generated by the ... (Read 300 times)

joe · **on:** Aug 15, 2020

Question 1

An operation had a beginning inventory of $13,500 for an accounting period. In the accounting period the operation purchased $72,000 worth of food. Ending inventory for the operation in the period was $15,000. What was the operation's unadjusted cost of food sold for the period?
◦ $50,500
◦ $70,500
◦ $85,500
◦ $100,500

Question 2

An operation had adjusted food cost of $10,800 in an accounting period. Revenue generated by the operation in the period was $45,000. What was the operation's adjusted food cost percentage for the period?
◦ 4.1%
◦ 22%
◦ 24%
◦ 41.6%

kescobar@64 · **Reply #1 on:** Aug 15, 2020

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