Things one eats or wastes (8)
I believe the answer is:
fritters
'wastes' is the definition.
(frittering is a kind of wasting)
I cannot understand how the remainder of the clue works.
Can you help me to learn more?
(Other definitions for fritters that I've seen before include "food" , "Squanders the fruit fried in batter" , "battered apples, for instance" , "Wastes" .)