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#
Uploaded: 2024-03-20T06:32:37.000Z
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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