Question: Problem 2 Given the following information, what is the Net Cost of Sales: Food during August 20XX for the Hilo Town Restaurant? 384 Chapter 13

Problem 2 Given the following information, what is the Net Cost of Sales: Food" during August 20XX for the Hilo Town Restaurant? 384 Chapter 13 Value of ending food inventory, August 30, 20XX Value of ending food inventory, July 31, 20XX Value of purchases during August 20XX Value of transfers to kitchen Value of transfers from kitchen Cost of employee meals Value of complimentary meals $ 37,450 $ 39,790 $107,475 $ 6,470 $ 3,125 $ 1,140 $ 990 b. What is the Hilo Town Restaurant's food cost percentage for August 20XX, if its food revenue for the month was $317,410

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