In the year ended February 2, 2019, Macy's reported cost of goods sold (before shrinkage) of $15.2
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Question:
In the year ended February 2, 2019, Macy's reported cost of goods sold (before shrinkage) of $15.2 billion; February 2, 2019 Inventory of $5,3 billion; and ending inventory for the previous year (February 3, 2018) of $5,2 billion.
Required :
If the cost of inventory purchases was $15.5 billion, what was the cost of shrinkage during the year ended February 2, 2019? (Enter your answer billions rounded to 1 decimal place.)
Related Book For
Intermediate Accounting
ISBN: 9780136946694
3rd Edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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