The Beacon Drive Inn Had Food Sales of $45,000, an Opening

question 29

Multiple Choice

The Beacon Drive Inn had food sales of $45,000, an opening inventory of $8,000, purchases of $13,000 and an ending inventory of $9,000. What was the food cost percentage?

• A) 26.7%
• B) 27.3%
• C) 27.6%
• D) 26.3%

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Definitions:

Positing

involves placing something firmly or putting forward an assertion, belief, or theory for consideration.

Meaningfully Shared Characteristics

Traits or features that are held in common among a group or category of things, providing significant insight into their nature or behavior.

Mass Affluent

A demographic group characterized by their substantial disposable income, though not wealthy enough to be considered rich by traditional standards.

Investable Assets

Financial assets or securities that individuals or institutions can purchase in order to generate returns.