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In the year ended February 2, 2019, Macys reported cost of goods sold (before shrinkage)...

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Accounting

In the year ended February 2, 2019, Macys 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 in billions rounded to 1 decimal place.)

Please explain step by step and the formula used

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