Restaurants and other retail food establishments must carry inventory to provide services to customers. Because all inventory costs are expenses incurred by the restaurant, they become a component of ...

A periodic inventory system uses a manual inventory count at the end of the year. This amount, labeled ending inventory, becomes the beginning inventory for the next year. Purchases of new inventory ...

Inventory turnover is an indicator of a company’s revenue efficiency. It is the ratio defining how many times the inventory was sold and replaced in a given period of time. The inventory turnover ...