Question

In​ 2018, Walmart reported sales of​ $500.3 billion, gross profits of​ $126.9 billion, EBIT of​ $20.4 billion, and net income of​ $9.9 billion. The​ company's cost of goods sold that year equals​ ________.

Answer 1

Answer:

$373.4

Explanation:

The cost of goods sold are the costs associated with the carrying value of the goods that were sold. In other words, it refers to the costs of the merchandise, the direct labor, the direct materials, and any other type of allocated overhead to the good.

When the cost of goods sold is substracted for sales revenue, we obtained the gross profits. Therefore, to find the answer, we simply write the following equation and solve:

Sales Revenue - Cost of Goods Sold = Gross Profits

500.3 - X = 126.9

500.3 - X - 500.3 = 126.9 - 500.3

-X = -373.4

Dividing each side by -1 we finally obtain:

X = 373.4