Question

For a recent year, Best Buy reported sales of $42,410 million. Its gross profit was $9,690 million. What was the amount of Best Buy's cost of goods sold? (Enter answer in millions.) $ million

Answer 1

Best Buy's cost of goods sold is calculated by subtracting the gross profit from the total sales. The COGS for Best Buy is $32,720 million, based on sales of $42,410 million and a gross profit of $9,690 million.

Step-by-step explanation:

To calculate Best Buy's cost of goods sold (COGS), we need to understand the relationship between sales, gross profit, and the cost of goods sold. The general formula to calculate COGS is:

COGS = Sales - Gross Profit

Given that Best Buy's sales were $42,410 million and the gross profit was $9,690 million, we can simply substitute these values into the formula:

COGS = $42,410 million - $9,690 million

Therefore, the cost of goods sold for Best Buy is:

COGS = $32,720 million

Answer 2

The amount of Best Buy's cost of goods sold was $32,720 million

Step-by-step explanation:

cost of goods sold = sales - gross profit

= $42,410 million - $9,690 million

= $32,720 million

Therefore, The amount of Best Buy's cost of goods sold was $32,720 million