In 2013 Macys reported cost of goods sold of 176 billion end

In 2013, Macy\'s reported cost of goods sold of $17.6 billion, ending inventory for 2013 of $9 billion, and ending inventory for the previous year (2012) of $8.6 billion.

If the cost of inventory purchases was $18.5 billion, what was the cost of shrinkage during 2013? (Enter your answer in billions rounded to 1 decimal place.)

In 2013, Macy\'s reported cost of goods sold of $17.6 billion, ending inventory for 2013 of $9 billion, and ending inventory for the previous year (2012) of $8.6 billion.

Solution

cost of shrinkage during 2013 = .50 Billion Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Amount in billion ending inventory for the previous year                             8.60 Add purchases                         18.50 Total Inventory available                         27.10 Less COGS                      (17.60) Should be ending inventory of CY                           9.50 Actual ending inventory                           9.00 cost of shrinkage during 2013 = 9.5 - 9                           0.50