The item that contains the money that Walmart spent to pay for inventory, on its Income Statement is Cost of Sales.
Cost of sales, which are also called cost of goods sold, are the item in the income statement that will show the amount that the company in question, which is Walmart, spent on the goods that they sold.
To find the cost of sales, the following formula is used:
= Opening inventory for the period + Purchases in the period - Ending inventory for the period
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