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    kclairet018's Avatar
    kclairet018 Posts: 1, Reputation: 1
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    #1

    Oct 9, 2007, 11:16 AM
    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
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    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?
    mavie's Avatar
    mavie Posts: 1, Reputation: 1
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    #3

    Jul 13, 2012, 05:16 AM
    20938
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