In 2013, Macys reported cost of goods sold of $ 16 5 billion, ending inventory for 2013 of $ 5 3 billion, and ending inventory for the previous year (2012) of $ 5 1 billion Required If the cost of inventory purchases was $ 16 9 billion, what was the cost of shrinkage during 2013 ...

Amounts in billions Beginning inventory ...

In 2013, Macys reported cost of goods sold of $ 16.5 billion, ending inventory for 2013 of

Question:

In 2013, Macy’s reported cost of goods sold of $ 16.5 billion, for 2013 of $ 5.3 billion, and for the previous year (2012) of $ 5.1 billion.
Required:
If the cost of inventory purchases was $ 16.9 billion, what was the cost of shrinkage during 2013? Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...