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What was the average food inventory for Gene operation

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Reference no: EM133075128

Question - Refer to the information below relating to Gene's restaurant.

Product Inventoried

Beginning Inventory

Ending Inventory

Food

$11,300

$8,700

Beverage

$5,750

$6,250

Product Usage

 

 

Cost of Food Used

$122,000

 

Cost of Beverage Used

$28,000

 

Required -

1. What was the average food inventory for Gene's operation?

2. What was the average beverage inventory for Gene's operation?

3. How many times did Gene turn his food inventory in the accounting period?

4. How many times did Gene turn his beverage inventory in the accounting period?

Reference no: EM133075128

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