The restaurant's beginning and ending food inventory for 2020 totaled $13,000 and $14,000 respectively. Additional 2020 information
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The restaurant's beginning and ending food inventory for 2020 totaled $13,000 and $14,000 respectively. Additional 2020 information is as follows:
Food purchases: $170,000
Employee meals: $3,000
Promotional meals: $2,000
Food sales: $480,000
Compute the cost of goods sold for 2020
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