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Determining Cost of Goods Sold For a recent year, TechMart reported sales of $48,206 million. Its...

Determining Cost of Goods Sold

For a recent year, TechMart reported sales of $48,206 million. Its gross profit was $13,016 million.

What was the amount of TechMart's cost of goods sold? (Enter answer in millions.)
$ million

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Answer #1

Reported Sales =$48,206 million

Gross profit= $13,016 million

Cost of Goods Sold= Sales -Gross Profit

                               =  $48,206million-$13,016 million

                               = $35,190 million

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