Determining Cost of Merchandise Sold For a recent year, Best Buy reported sales of $40,339 million. Its gross profit was $9,047 million. What was the amount of Best Buy's cost of merchandise sold? (Enter answer in millions.)

Best Buy's cost of merchandise sold is $31,292 million

Explanation:

Gross profit = income - cost of merchandise

Cost of merchandise = income - gross profit

Income is the reported sales = $40,339 million

Gross profit is the amount left after deducting expenditure (cost) from revenue (income) = $9,047 million

Cost of merchandise = $40,339 million - $9,047 million = $31,292 million

an online clothing brand

explanation:

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.