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Chipped beef is a classic military dish made with dried beef in a thick and creamy white sauce seasoned with cayenne pepper that's served over toast.
Gather all ingredients.
Melt butter in a medium saucepan over low heat. Add flour and whisk until smooth.
Add milk a little at a time, whisking well after each addition. Bring to a boil over medium-high heat and cook, stirring, until thickened.
Stir in beef and cayenne; cook until warmed through.
Serve over toast.