Cost of Food Sold

`"Cost of Food Sold" = (( "Beginning Inventory" + "Purchases" )- "Ending Inventory" )- "Value of Transfers Out" + "Value of Transfers In" - "Employee Meals" `

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Tags

The Cost of Food Sold includes/takes into account employee meals and transfers alongside inventory and purchases(raw materials).

Resource:

Dopson, Lea R., and David K. Hayes. Managerial Accounting for the Hospitality Industry. Hoboken, NJ: Wiley, 2009. Print.