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

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 2 years ago

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