INVENTORY USAGE Ending Usage

Beginning Units Ending

Units Purchased Total Units Usage Unit Price Value Value
Ribs 40 80 120 30 90 $ 5.80 $ 174 $ 522
NY Strips 20 36 56 10 46 $ 7.80 $ 78 $ 359
Scallops 15 30 45 20 25 $ 2.60 $ 52 $ 65
Burgers 45 120 165 38 127 $ 1.25 $ 48 $ 159

TOTAL $ 352 $ 1,105

Inventory Usage
Figure 8-11
 THEORETIC INVENTORY VALUATION
Beginning Purchases Total Ending Sales Cost
Ribs $ 232.00 $ 464.00 $ 696.00 $ 174 $ 1,710 30.53%
NY Strips $ 156.00 $ 280.80 $ 436.80 $ 78 $ 828 43.33%
Scallops $ 39.00 $ 78.00 $ 117.00 $ 52 $ 375 17.33%
Burgers $ 56.25 $ 150.00 $ 206.25 $ 48 $ 857 18.46%
TOTAL $ 483.25 $ 972.80 $ 1,456.05 $ 352 $ 3,770 29.3%

Theoretice Inventory Valuation

Figure 8-13
 INVENTORY VALUATION
Actual units Units
Beginning Purchases Total Ending Sales Cost sold Missing
Ribs $ 232.00 $ 464.00 $ 696.00 $ 174.0 $ 1,615 32.32% 85 5
NY Strips $ 156.00 $ 280.80 $ 436.80 $ 78.0 $ 720 49.83% 40 6
Scallops $ 39.00 $ 78.00 $ 117.00 $ 52.0 $ 330 19.70% 22 3
Burgers $ 56.25 $ 150.00 $ 206.25 $ 47.5 $ 776 20.45% 115 12
TOTAL $ 483.25 $ 972.80 $ 1,456.05 $ 351.5 $ 3,441 32.10%

Inventory Valuation
Figure 8-12