This morning I went out hunting for tallow for torches, I killed a bunch of animals and after having picked up several pieces, I opened my inventory to find that I had meat, but no bones or tallow. At this point I had 16 meat.
I killed another animal, it dropped bone and meat. I picked them both up, and in my inventory I had 18 meat, no bones.
I emptied my inventory, killed another animal that dropped bone and meat. I picked up the bone first, and it was successfully in my inventory. I picked up the meat, and found I now had 2 bone, no meat.
I can confirm, this does happen. I killed a creature, it dropped a bone. I killed another, it dropped meat, but it stacked with the bone and now I have 2 bone and 0 meat. Looks like a bit of a bug with smart stacking.