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kclairet018
Oct 9, 2007, 11:16 AM
I am online right now doing homework for my Accounting 1 class. I have been given the question below.

Determining cost of merchandise sold

In 2005, Best Buy reported revenue of $27,433 million. Its gross profit was $6,495 million.

What was the amount of Best Buy's cost of merchandise sold? Enter the amount in millions.

I have no clue what I am doing wrong, I have tried everything, please help me


It is due Very Soon
CaptainForest
Oct 9, 2007, 12:47 PM
Sales - COGS = Gross Profit.

You have the sales number, you have the gross profit number. So, what do you think is the COGS number?