>I understand that 'mono' is the word for 'thing'. So would the words in the text more >accurately translate to eating thing, drinking thing, reading thing, rather than food, >drink, or book/magazine, respectively?
I think you've pretty much hit it dead-on. Nomumono would probably be translated to "stuff for the act of drinking", and Taberumono would similarly be "stuff for the act of eating". However, Tabemono/Nomimono are used much common, as they really denote "food/drinks" respectively.
And also, there are other usages of monos too. I won't get into the details here since the other usages are normally not learned within the first year. But anyway, the most common other usage of mono besides having the meaning of "stuff" is the usage of mono as "because".