Problem: One of the most important costs in the hospitality businesses is the Cost of Sales (or Cost of Goods Sold). How is it determined? Please select the most appropriate answer from the list below. Group of answer choices It is determined by adding all purchases to the beginning inventory amount, and then by subtracting the amount of inventory on hand. It is calculated by multiplying the target percentage (%) of the sales amount that is predetermined by the management. It is calculated by adding up all purchases of inventory during one accounting period. It is the amount of inventory available on hand during operations. It is calculated by adding the value of individual items by counting them.