What was the amount of Best Buy 's cost of merchandise sold

For a recent year, Best Buy reported sales of $40,339.Its gross profit was $9,047 million.What was the amount of Best Buy's cost of merchandise sold

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Expert Solution

The cost of goods sold reflects the expenses incurred for the inventory that the company sold over a given time period. The following is its mathematical representation.

Cost of merchandise sold = Net sales - Gross profit

Calculation of cost of merchandise sold for company

Net sales = $40,339 million

Gross profit = $9,047 million

Cost of merchandise sold = Net sales - Gross profit

= $40,339 million - $9,047 million

= $31,292 million

Therefore, cost of merchandise sold for the company is $31,292 million

balaji rao answered 1 year ago

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