Do problem 2 a through c ### Inventory Analysis and Cost Calculations#### Part b: Food and Beverage Costs##### Inventory and Revenue Data- **Food** - Beginning Inventory: $110,000 - Ending Inventory: $98,470 - Purchases: $488,000 - Revenues: $1,268,000- **Beverage** - Beginning Inventory: $38,500 - Ending Inventory: $41,000 - Purchases: $161,000 - Revenues: $742,000##### Additional Cost InformationThe following adjustments are needed to calculate the net costs of sales for food and beverages:- **Transfers to Bar:** $5,170- **Transfers from Bar:** $6,850- **Employee Meals:** $7,640- **Complimentary Meals:** $2,290- **Complimentary Beverages:** $840**Question:**Calculate how food and beverage costs are over- or understated by comparing unadjusted to net costs, and express the answers in dollars and percentages.---#### Problem 3: Ground Beef Inventory ValuationThe Pleasant Meadows Restaurant uses frozen ground beef in 10-pound poly bags, costing $30 per bag as received in January. Use the following information to calculate the end-of-January inventory value:- **January 1 Inventory:** - Count: 17 bags - Ending Inventory Value: $28.00 per bag- **January 31 Inventory:** - Count: 28 bags - Ending Inventory Value: $30.00 per bag- **Purchases:** - 37 bags were purchased during January.**Tasks:**a. **FIFO Method:** Calculate the value of ground beef inventory. b. **LIFO Method:** Calculate the value using the last-in, first-out approach.c. **Actual Cost Method:** Calculate the value using present rotation systems.d. **Weighted Average Method:** Determine the inventory value applying a weighted average. ---This exercise engages students in using inventory methods such as FIFO, LIFO, and weighted averages, to handle real-world restaurant inventory challenges. ## Educational Transcript### Technology and Food and Beverage Costs- **Automated food cost control systems**- **Automated beverage cost control systems**- **Automated restaurant beverage dispensing systems**### Problems#### Problem 1Use the following data to answer the question below about actual food and beverage costs for the Marina Bay Grill for July:- **Ending Inventory (Food):** $68,000- **Ending Inventory (Beverage):** $23,470- **Food Purchases:** $305,000- **Beverage Purchases:** $24,700- **Beginning Inventory (Food):** $72,400- **Beginning Inventory (Beverage):** $19,700- **Transfers to Bar:** $3,870- **Beverage Theft/Pilferage:** $510- **Food Over-Portioning Expense:** $615- **Transfers from Bar:** $4,100- **Complimentary Food:** $2,160- **Complimentary Beverages:** $890- **Employee Meal Cost:** $11,225- **Food Revenues:** $878,000- **Beverage Revenues:** $116,500**Question:** What is the net cost of sales for food and beverage? Indicate dollar and percentage costs.#### Problem 2a. What are the unadjusted food and beverage costs for the Hillside Resort, given the following information for April? (Express your answer in dollars and percentages.) (Note: The data for Problem 2 is not provided in the image.)

Name: Do problem 2 a through c ### Inventory Analysis and Cost Calculations#
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Description: Do problem 2 a through c ### Inventory Analysis and Cost Calculations#### Part b: Food and Beverage Costs##### Inventory and Revenue Data- **Food** - Beginning Inventory: $110,000 - Ending Inventory: $98,470 - Purchases: $488,000 - Revenues: $1,2

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Beginning Inventory Ending Inventory Purchases Revenues Food $110,000 $98,470 $488,000 $1,268,000 b. The following additional information about April's food and beverage costs is also available. Use this data to calculate net costs of sales for food and beverage. (Express your answer in dollars and percentages.) Transfers to Bar Transfers from Bar Employee Meals Complimentary Meals Complimentary Beverages Beverage $38,500 $41,000 $161,000 $742,000 $5,170 $6,850 $7,640 $2,290 $840 c. By what amounts are the food and beverage costs over- or understated, based on com- parisons between the unadjusted and net costs?