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-   -   Cost of Merchandise Sold (https://www.askmehelpdesk.com/showthread.php?t=138828)

  • Oct 9, 2007, 11:16 AM
    kclairet018
    Cost of Merchandise Sold
    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
  • Oct 9, 2007, 12:47 PM
    CaptainForest
    Sales - COGS = Gross Profit.

    You have the sales number, you have the gross profit number. So, what do you think is the COGS number?
  • Jul 13, 2012, 05:16 AM
    mavie
    20938

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