Chef Fabio does beginning inventory on Thursday night and finds that he has $1456 in food products in the restaurant. Throughout the week hepurchases:ered1.00$457 produce,• $632 protein,ion• $356 dry goods, and. $147 dairy.The following Thursday he does ending inventory and finds that he has $1643 in food. He looks at his sales and finds that he made $5546 overthe same 7 day period. What is his food cost as a percentage of sales (food cost percentage)?Select one:a. 28.70%b. 55.88%c. 25.33%d. 54.96%

The cost as a percentage of the sales helps in finding out exactly how much profit we are earning…

Answered: Chef Fabio does beginning inventory on…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Similar questions

! Required information [The following information applies to the questions displayed below.] In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 260 units at $7 on January 1, (2) 470 units at $8 on January 8, and (3) 770 units at $9 on January 29. Assuming 950 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and cost of goods sold under FIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold FIFO
What would the effect of the failure in the ratio measurement?
Use the following information for the Quick Study below. (Algo) (11-14) Skip to question [The following information applies to the questions displayed below.]Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 15 units for $31 each. Purchases on December 7 10 units @ $17.00 cost Purchases on December 14 20 units @ $23.00 cost Purchases on December 21 15 units @ $25.00 cost QS 5-12 (Algo) Perpetual: Inventory costing with LIFO LO P1 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method.
Huxley's Toy Store has $2,805 of inventory on hand at the beginning of the month. During the month, the company buys $20,860 of merchandise and sells merchandise that had cost $17,941. At the end of the month, how much inventory should be on hand?
Mario's Home Systems has sales of $2,860, costs of goods sold of $2,200, inventory of $512, and accounts receivable of $434. How many days, on average, does it take Mario's to sell its inventory?
Answer with detailed working please
Charley's, a local dairy store, maintains milk inventory by the gallon. Charley's uses the periodic inventory system. The November milk purchases and sales at its Chazy, NY, location are below (Charley's starts November with zero inventory): November 2: Purchased 7 gallons at $2.00 each. November 6: Purchased 7 gallons at $2.30 each. November 8: Sold 4 gallons of milk to customers. November 13: Purchased 3 gallons at $2.80 each. November 14: Sold 4 gallons of milk to customers. Determine the cost of goods available for sale for November? Group of answer choices a. $7.10 b. $38.50 c. $22.20 d. $0 Charley's, a local dairy store, maintains milk inventory by the gallon. Charley's uses the periodic inventory system. The November milk purchases and sales at its Chazy, NY, location are below (Charley's starts November with zero inventory): November 2: Purchased 7 gallons at $2.00 each. November 6: Purchased 7 gallons at $2.30 each. November 8: Sold 4 gallons of milk to customers.…
Allstate Sporting Goods started April with an inventory of 10 sets of golf clubs that cost a total of $1,500. During April, Allstate purchased 20 sets of clubs for $3,200. At the end of the month, Allstate had six sets of golf clubs on hand. The store manager must select an inventory costing method, and he asks you to tell him both cost of goods sold and ending inventory under these two accounting methods, assuming the periodic system is used. Weighted-average cost FIFO If the store manager wants the most current cost for ending inventory, which method should he choose?
Ellie Inc. sold 6 similar items in February for $15 each. The company started with 3 items in inventory that cost $5. The following purchases were made during February: 2 items were purchased on February 3 with a unit cost of $8 1 item on February 15 with a unit cost of $8.50 4 items on February 22 with a unit cost of $7.50 What is the cost of goods sold using the FIFO method?
Chef Amy does beginning inventory on Thursday night and finds that she has $4194 in food products in the restaurant. Throughout the week answered she purchases: out of 1.00 $2088 produce, question • $1678 protein, • $870 dry goods, and • $3914 dairy. The following Thursday she does ending inventory and finds that she has $3464 in food. She looks at her sales and finds that she made $30541 over the same 7 day period. What is her total food cost? Select one: a. $12,744 b. $16,208 C. $9,280 d. $8,550
8. During a September Sale, Corfman Camper Supply has marked down all items 30%. Jill Miller purchases a deluxe portable grill that regularly sells for $74.88 and a set of barbecue tools that regularly sell for $6.88. What is the total sale price? 9. Robin Suen shopped at Walbank Department Store during the end-of-summer sale. All luggage was marked down 35% She purchased a suitcase that regularly sells for $44.95, a garment bag that regularly sels for S80.00 and a tote nanin
Use the following information for the Quick Study below. (Algo) (11-14) [The following information applies to the questions displayed below.] Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 15 units for $32 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $18.00 cost 20 units @ $24.00 cost 15 units @ $26.00 cost QS 5-11 (Algo) Perpetual: Assigning costs with FIFO LO P1 Required: Determine the costs assigned to the December 31 ending inventory based on the FIFO method.

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS