conect Principles of Accounting 1 2013 ACC 2013 011 Fall 2018 christopher r ter 6 HW Question 2 (of 22 velue 025 points M6-4 Inferring Purchases Using the Cost of Goods Sold Equation ILO 63 Marcy's, Inc operates department stores located primarily in the Southwest, Southeast, and Midwest. In its 2013 third-quarter report, the company reported Cost of Goods Sold of $10.6 bilion, ending inventory for the third quarter of $11.5 billion, and ending inventory for the previous quarter of $10.7 billion Estimate merchandise purchases for the third quanter. (Enter your answer in billions rounded to 1 decimal place.) bition References eBook & Resources Worksheet Difficulty 1 Easy Learning Objective: 06-03 M6-4 Inferring Purchases Using the Analyze purchase transactions Cost of Goods Sold under a perpetual inventory Equation [LO 63 stem