Question

During fiscal 2016, mattel had sales of $5,456,650, total expenses of $5,138,628 and gross profit of $2,554,391. What was mattel's cost of sales for 2016? ($ in thousands)

Answer 1

Calculation of Cost of Sales for Mattel for the year 2016:

It is given that Mattel had sales of $5,456,650, and gross profit of $5,456,650for the year 2016. The cost of sales can be calculated with the help of following formula:

Cost of Sales = Sales – Gross Profit

Cost of Sales = 5,456,650-5,456,650

Cost of Sales = 2,902,259

Hence the Cost of Sales is 2,902,259 ($ in thousands).