I was playing experimental and decided to have a drink of Nota Cola. I was curious to see what would happen if i opened the tab menu and clicked the 'x' button on the soda. Surprisingly, the drinking animation still occurred and i gained the energy from the soda, but the soda was still in my bag. I drank over and over again from the same soda can.
UPDATE: I just tried the same thing with a cooked steak and it works. I think it works for all food and drinks.
2ND UPDATE: I just tried it with rags, and now believe it works with any item when used.