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31 January, 23:22

A bar operation achieved $92,000 in beverage sales for an accounting period. For that period, it had a Beginning Inventory of $25,000. Ending Inventory was $22,000 and beverage purchases equaled $20,000. What was the bar's Beverage Cost percentage for the period?

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  1. 1 February, 00:37
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    The bar's Beverage Cost percentage for the period is 25%

    Explanation:

    In this question, first we have to find the cost of goods sold which is shown below:

    Cost of goods sold = Beginning Inventory + Purchase made - ending inventory

    = $25,000 + $20,000 - $22,000

    = $23,000

    Now the cost percentage would be equal to

    = (Cost of goods sold) : (sales) * 100

    = ($23,000) : ($92,000) * 100

    = 25%
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