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Calculate food cost of sales and net food cost of sales

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Question - Dee's Steakhouse has separate food and bar operations. Calculate food cost of sales and net food cost of sales for August. The following information is provided:

Food inventory, August 1 $15,357

Food inventory, August 31 12,88

Food purchases, August 47,879

Transfers, bar to the kitchen 68

Employee meals cost 1,828

Promotional meals cost 219

Complimentary meals cost 140

Transfers, kitchen to the bar 128

Reference no: EM131867486

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