For a company like Best Buy, what does the balance of Cost of Goods Sold in the

Question:

For a company like Best Buy, what does the balance of Cost of Goods Sold in the income statement represent? What does the balance of Inventory in the represent?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...