You have a food cart business that offers three different food items. The table below shows...

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You have a food cart business that offers three different food items. The table below shows the status of your inventory at the end of the month. Calculate the Cost of Goods Sold Percentage for each item and then for all products sold that month. Product Category Beginning Inventory + Purchased Inventory - Ending Inventory Revenue Per Item Item 1 $1,485 $1,295 $875 $6,350 Item 2 $1,045 $890 $978 $2,735 Item 3 $325 $125 $235 $860 Totals $2,855 $2,310 $2,088 $9,947 You have a food cart business that offers three different food items. The table below shows the status of your inventory at the end of the month. Calculate the Cost of Goods Sold Percentage for each item and then for all products sold that month. Product Category Beginning Inventory + Purchased Inventory - Ending Inventory Revenue Per Item Item 1 $1,485 $1,295 $875 $6,350 Item 2 $1,045 $890 $978 $2,735 Item 3 $325 $125 $235 $860 Totals $2,855 $2,310 $2,088 $9,947

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Calculating the Cost of Goods Sold Percentage Cost of Goods Sold COGS is the cost of the products th... View the full answer