If you are looking for the formula to calculate your month end inventory food cost click on this link to go there: Food Cost Calculation Formula . This page details the Excel Food Cost Calculation Tool for tracking your monthly inventory and is available for free download.
Food Cost Calculation Tool
The Food Cost Calculation File is an excellent inventory management forms tool which helps analyze your month to month inventory. It is an Excel file and has a separate tab (Jan. – Dec.) to track your food cost for the whole year. Each month has the info and format listed below. It has room for up to 23 storerooms/storage areas. As you enter your ending inventory for each storeroom it automatically adds them together to calculate your ending inventory. The ‘Comparison To Last Month’ box compares the changes in value for each storeroom so you can quickly see major changes (potential problems) in each area. It also compares the difference from last month for your Beginning Inventory, Ending Inventory, Transfers, Purchases, Sales, and the difference in points on your Food Cost. Decreases in any of these values appears in red.
The only areas you need to fill in are the areas in blue. All the other areas are calculated for you.
In the ‘Key Markers’ area you will find automatic calculations for your Average Inventory, the amount of Inventory Used, your Inventory Turns, the percentage of change from last month in Ending Inventory, Purchases and Sales. And there is a separate area to track your Transfers In, Transfers Out, Marketing Credit/Expense, Comps, and Unrecorded Sales.
If you have multiple venues/units then use a separate Food Cost Calculation File for each venue and name them after each venue.
System Requirements: Excel 2000 or better, Windows 98 or better.
Click on the image below to see a larger version of what a typical sheet looks like.
Food Cost Calculation File’s features
The features of the Food Cost Calculation File are highlighted and explained below. Click for larger image.
Tracking Food Cost and Monthly Variances
The Monthly Variances area is on each month’s sheet and is for tracking various credits/debits affecting your food cost. You can use this area to simply draw totals from other excel files. Or you can lengthen the columns so as to add every transaction in this area. Click image below to see what the whole page looks like.
Click on the download button if you would like to use End of Month Foodcost sheet
Note: Microsoft Excel Required (not included)