00 points 7-4 Inferring Merchandise Purchases LO7-1 Abercrombie and Fitch is a leading retailer of casual apparel for men, women, and children. Assume that you are employed as a stock analyst and your boss has just completed a review f the new Abercrombie annual report. She provided you with her notes, but they are missing some information that you need. Her notes show that the ending inventory for Abercrombie i the current and previous years was $569,818,000 and $385,857,000, respectively. Not sales for the current year were $4,158,058,000. Cost of goods sold was $1,639.188,000. Net income was $127,658,000. Required: Determine the amount of purchases for the year. (Hint: Use the cost of goods sold equation.)