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 equalled ________.

Question

Quizplus · Accepted Answer

Cost of goods sold is calculated by subtracting gross profit from sales. Therefore, Cost of goods sold = Sales - Gross profit = $500.3 billion - $126.9 billion = $373.4 billion.

In 2018,Walmart Reported Sales of $500