At the most basic level of matter conversion resulting in loss of gravity in the beer it must exit as a volatile (gas co2,o2), or be converted into a larger molecule that uses more space than before and increases dissolved volume.
With 10ppm o2 is only 0.001% of the mass.
When oxygen is taken up by yeast biomass is the product. Biomass is not a factor adding to disolved solution volume, because it settles out as trub. In fact it increases a typical wort solutions specific gravity. Because yeast cell is 70% water. (Harden: note on the water content of the yeast cell pg. 608). Wort would need to have >30% of its mass as not water for this effect not to happen.
In practical brewing, I believe this is the culprit for many skewed readings in attenuation calculations. Not from uptake of sugar that doesn't result in ethanol.
As for how much sugar is "wasted" and not converted to ethanol. I don't think it's measurable outside of lab conditions and is not a major concern to a homebrewer.