cost of goods sold

cost of goods sold - CostofGoodsSold...

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Cost of Goods Sold  Beginning inventory $100.00 + Purchases      +150.00   - Ending inventory -  75.00 = Cost of Goods Sold $175.00 Uses Dollar Value of Inventory
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Cost of Goods Sold is used  to calculate Food Cost Percentage Food Cost Percentage   determines your bonus   Inventory is used to calculate  cost of goods sold Therefore, accurate inventory  is essential to accurate FC%
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Cost of Goods Sold / Sales = Food Cost Percentage Food  Cost Percentage $175.00 / $500.00 = 35% (CoGS) (Sales)
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Inventory is a number that is, it counts the number    of items you have on hand BUT It is the VALUE of the inventory  that is used in cost of goods sold and food cost percentage calculations
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You count  5, # 10 cans of tomatoes on your shelf The VALUE of those cans is    equal to the number of cans times their dollar value
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 calculated by computer systems
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This note was uploaded on 09/23/2011 for the course HRAD 3353 taught by Professor Staff during the Fall '11 term at Oklahoma State.

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cost of goods sold - CostofGoodsSold...

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