Question: Calculate the cost of food sales under a periodic inventory system for the period ended November 30 given the following information: Inventory on November 30

Calculate the cost of food sales under a periodic inventory system for the period ended November 30 given the following information:

 

 

  • Inventory on November 30 is $ 6, 000
  • Sales for the period were $ 450,000
  • Purchases for the period were $ 72,000
  • Inventory on October 31 was $ 5,000

 

Free employee meals for the period were as follows:

 

  • Rooms Department $ 650
  • Food Department $ 1,000
  • Administration and General Department $ 220

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