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